Singapore Airlines
Price targets:
$6.27 HOLD (CGS-CIMB Research)
$5.54 DOWNGRADE HOLD (Daiwa Securities Research)
$4.00 DOWNGRADE UNDERWEIGHT (JPMorgan Research)
$5.80 HOLD (UOB Kay Hian Research)
$4.34 REDUCE (Nomura Research)
$6.60 DOWNGRADE HOLD (DBS Group Research)

While the capital raising move backed by Temasek Holdings should strengthen Singapore Airlines (SIA) for the long haul, the flag carrier’s earnings will likely nosedive ahead, according to CGS-CIMB Research.

This comes on the back of expected fuel hedging losses as the airline has hedged Brent crude and jet fuel at a strike price of US$58 ($83.04) a barrel and US$74 a barrel.

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