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DBS upgrades Singtel to 'buy' after associate Bharti Airtel announces imminent tariff hikes

Its equity research estimates a 10 per cent increase at Bharti may contribute additional 3% earnings to Singtel

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Ng Ren Jye

Published Fri, Nov 22, 2019 · 09:50 PM

Singapore

DBS Equity Research has upgraded Singtel to a "buy" from "hold", with a target price of S$3.60 after India's top three telecom players announced tariff hikes to end a bruising price war that was getting out of hand.

The development is seen as positive for Bharti Airtel, a Singtel associate.

SingtelBharti Airtel

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