Brokers' take

SATS | Buy Sept 25 close: S$4.57 Target price: S$5.02 DBS Group Research, Sept 25

WE remain positive on SATS and maintain our "buy" recommendation with a higher target price of S$5.02. We see long-term potential growth drivers from

While consensus sees pricing pressure dampening earnings growth, we believe that passenger growth at Changi will be a key driver for the share price. We also see better staff productivity and cost controls will eventually come through to lift margins. Recovery in aviation volumes should offset the impact of pricing pressure eventually.