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Singtel expected to meet FY2022 estimates: CGS-CIMB

Lim Hui Jie
Lim Hui Jie5/25/2022 04:35 PM GMT+08  • 3 min read
Singtel expected to meet FY2022 estimates: CGS-CIMB
Singtel is expected to meet estimates for its FY2022. Photo: The Edge Singapore
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CGS-CIMB Research has maintained its add call and target price of $3.30 on Singtel, expecting the telco’s FY2022 ended March results to meet estimates as it releases its results on 27 May.

Analyst Foong Chong Chen and Sherman Lam say that Singtel’s 2HFY2022 core net profit is likely to rise 8-9% y-o-y, meeting their forecast.

This is based on its associates’ reported results and CGS-CIMB’s estimates for its Singapore and Optus operations, and as such, they believe Singtel’s 2HFY22F core net profit will come in at $970 million- $980 million, up 8-9% y-o-y.

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