DBS analysts Sachin Mittal and Lim Rui Wen have maintained their “fully valued” rating on Singapore Post (SingPost) with the same target price of 64 cents.

The analysts note that the company is experiencing a structural decline in high-margin domestic mail revenue driven by the increasing pivot to going online.

Operating profit from its international mail segment has also slowed and is unable to mitigate the drop from domestic mail.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook