Brokers' take
SATS | Hold (maintained) June 3 close: S$5.03 Target price: S$5.05 UOB Kay Hian, June 3
SATS outlined a clear growth strategy on its capital markets day to maintain its leadership position as the Asia-Pacific (APAC) market leader in aviation catering and ground handling as well as to be a leading central kitchen provider in the region.
This includes plans to spend S$1 billion in three years and raise gearing to 30 per cent and speed up digitalisation of cargo traceability and food procurement.
We agree with SATS approach to grow its business in fast developing countries. However, cost pressures are likely to keep margins low, even for central kitch…
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