SINGAPORE (May 9): UOB Kay Hian and OCBC Investment Research are maintaining their “hold” calls on Singapore Post (SingPost) with a $1.06 price target and $1 fair value estimate, respectively, after the group announced a 4Q19 loss of $75.1 million due to US business-related impairment charges and exceptional items. 

CGS-CIMB Research, on the other hand, continues to rate the stock at “add” with a lower target price of $1.17 compared to $1.20 previously.

In a Wednesday report, UOB analyst Lucas Teng recommends an entry price of 95 cents as he cuts FY20-21 net profit forecasts by up to 7% to reflect margin pressure on the group’s postal segment from service enhancement initiatives, as well as lower revenue growth for Quantium Solutions.

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