5 hurdles for SingPost’s FY17 earnings

SINGAPORE (July 25): UOB Kay Hian has downgraded its rating for Singapore Post (SingPost) from “buy” to “hold”, while lowering its target price from $2.25 to $1.64 respectively.

In a Monday report, analysts Andrew Chow and Thai Wei Ying say they have revised their earnings estimates down by 11-18% for FY17-18, anticipating SingPost’s earnings to be reined in by integration headwinds and goodwill provisions from leadership changes.

However, they do expect earnings to pick up in FY18.

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