Brokers' take

Singapore Airlines | Buy Target price: S$12.00 Feb 14 close: S$11.15 DBS Group Research, Feb 14

Upgrade to buy as we see SIA benefitting from a synchronised global economic recovery. We are more upbeat on the outlook for SIA as it should benefit from strong travel demand from the synchronised global economic recovery, which should keep load factors firm and improve passenger yields for its flagship segment. Meanwhile, the cargo business should also remain fairly strong as trade conditions stay fairly buoyant.

Contributions from key subsidiaries Silkair and Scoot are also expected to improve as both regional and leisure air travel demand continue to grow.