SINGAPORE Airlines (SIA) may have reported weaker profits in the third quarter of its financial year, but some analysts are betting on an improved performance in Q4FY18/19 and FY20.

Investors, too, seem to think that the dark clouds could be dispersing, with the counter rising from S$9.87 since it released its earnings on Feb 14 and crossing the S$10 threshold for the first time since end July last year. Its third quarter earnings also beat some analysts' expectations on the back of stronger-than-expected passenger yields.

On Tuesday, shares in SIA closed at S$10.10, falling nine cents from Monday's close. According to Bloomberg data, the average 12-month target price of 16 analysts stood at about S$11.01.