CGS-CIMB upgrades Sats to 'add' on recent share price weakness

Singapore

CGS-CIMB has upgraded Sats to "add" from "hold", as it views the ground handler's recent share price weakness resulting from the Russia-Ukraine conflict as an opportunity to accumulate.

The company's share price has fallen by about 9 per cent since Feb 22, likely in response to expectations of higher cost pressures in the near term, as well as the uncertain macroeconomic conditions arising from the Russia-Ukraine conflict, the research team said in a report on Thursday (Mar 10).