After a roller coaster of a year, Singapore Telecommunications (Singtel), is expected to post a net exceptional loss of $1.21 billion for its upcoming FY2021 ended March results which will be released on May 27, due to impairment charges from its investments in Amobee and Trustwave, as well as impairments and write-downs from Optus.

Despite Singtel’s negative guidance on its upcoming earnings, analysts are still upbeat on the stock and are confident that the worst could be over.

CGS-CIMB Research has kept its “add” call on Singtel with an unchanged target price of $3.10, as analyst Foong Choong Chen believes that Singtel is able to start FY2022 on a clean slate.

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