Not all blue skies yet, but it’s back to ‘buy’ on SingPost

SINGAPORE (Oct 4): UOB Kay Hian is upgrading its “hold” call on Singapore Post (SingPost) to “buy”, as well as raising the stock’s target price to $1.77 from $1.53 previously.

(See also: 5 hurdles for SingPost’s FY17 earnings)

In a Tuesday report, analysts Thai Wei Ying and Andrew Chow explain this is because the research house has changed its valuation methodology from discounted cash flow (DCF) to sum-of-the-parts (SOTP) to “better reflect the valuation of each business segment”.

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