'Buy' Singtel as expectations of lower earnings, revenue, dividend cut are priced in: RHB

SINGAPORE (April 24): Despite expectations of lower earnings and revenue, as well as a dividend cut, RHB Securities has recommended investors to accumulate shares of Singapore Telecommunications (Singtel).

According to RHB, Singtel’s consumer revenue was hit by the sharp fall in inbound and outbound travellers in February.

This will be compounded by the typical weak revenue seasonality in 1Q 2020 and the timing of handset launches.

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