OCBC Investment Research analyst Chu Peng is recommending investors continue to “hold” onto Singapore Post (SingPost) with an increased fair value estimate of 74 cents from 71 cents.

Shares in SingPost have risen 8% month-to-date (m-t-d) in April as investors see the counter as a potential restructuring play following the Singapore Press Holdings (SPH)’s strategic review and CapitaLand Limited’s proposed restructuring.

While Chu says she is unaware of any material change in SingPost’s operations and guidance, she notes that the group “had undertaken a series of restructuring exercises to step up its transformation and growth in the digital age in recent years”.


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