Analysts raise Singtel price target as its shares soar; optimistic on data centre boost
The telco’s share buyback programme is set to be ‘accretive’
[SINGAPORE] Analysts are bullish on Singtel as the telco’s shares soared last week after it reported earnings that showed it returned to profitability for its second half ended March.
On Thursday (May 22), the group posted S$2.8 billion net profit, reversing from a S$1.3 billion loss for the year-ago period, as it proposed a S$0.10 per share final dividend and unveiled its maiden S$2 billion share buyback programme.
The telco’s shares has been doing well this year. They soared to a five-year high of S$3.99 on May 22. The stock was also one of the top performing Singapore stocks for the first quarter of 2025. Its shares closed at S$3.88 on Friday.
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