A good time to sell SATS?

SINGAPORE (Nov 11): SATS has had a good quarter in 2QFY17, with earnings growing 4% to $62.1 million and half-year core earnings of $117.6 million achieving 49.5% of Maybank Kim Eng’s full-year forecasts.

The group’s interim dividend payout had also increased by 1 cent to 6 cents per share, which was a “pleasant surprise” to Maybank Kim Eng’s analysts Derrick Heng and Neel Sinha.

However, the brokerage continues to maintain its “sell” recommendation and target price of $3.76.

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