SINGAPORE (May 22): UOB Kay Hian is keeping SATS at “hold” with a higher target price of $5.05 from $4.60 previously after the airline gateway services and food solutions provider reported $67 million in earnings for the fourth quarter ended March 31.
(See also: SATS reports 31% rise in 4Q earnings to $67 mil)
Last week, UOB analysts K Ajith and Sophie Leong had highlighted the possibility of higher-than-expected 4Q earnings for the group after potentially factoring in $12 million of gains from the group’s disposal of its stakes in Air Airfreight Terminal (AAT) and SATS HK.
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