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SPH downgraded as media business takes a beating

Jude Chan
Jude Chan7/17/2017 12:11 PM GMT+08  • 2 min read
SPH downgraded as media business takes a beating
SINGAPORE (July 17): DBS Group Research is downgrading Singapore Press Holdings (SPH) to “fully valued”, from “hold” previously, and cutting its target price by 60 cents to $2.79.
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SINGAPORE (July 17): DBS Group Research is downgrading Singapore Press Holdings (SPH) to “fully valued”, from “hold” previously, and cutting its target price by 60 cents to $2.79.

“Even though the stock offers dividend yield of more than 5%, we believe that a declining revenue outlook could lead to lower earnings and risks of DPS cut,” says DBS lead analyst Alfie Yeo in a Monday report.

This come after SPH saw earnings tumble 45.2% to $28.9 million in for the third quarter ended May on the back of weak advertising expenditure.


See: SPH earnings fall 45% to $28.9 mil in 3Q

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