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…
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