Brokers' take

SingPost | Buy

Target price: S$1.77

Sept 20 close: S$1.465

Maybank Kim Eng Research, Sept 20

OUR earlier concerns are gradually being addressed:

i) corporate governance issues are fading with a partial revamp of the board and SingPost taking on various recommendations;

ii) signficantly lower risk of more major acquisitions common under the previous leadership, with the focus now shifting to integration; and

iii) the stock has fallen about 13 per cent year to date and growth expectations have been reset with consensus estimates cut of more th…