$SIA (C6L.SG)$ Analysts bearish on SIA in the near-term, CGS...
Analysts bearish on SIA in the near-term, CGS International downgrades to ‘reduce’ at a lowered tp of 5.88 from 6.78 previously.
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Terra : I am also starting to feel bearish too![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
bullrider_21 OP Terra : SIA's 1QFY3/25 PATAMI of S$452m missed CGS CIMB's preview of S$490m due to lower-than-expected pax and cargo yields, partially offset by lower CASK.
Downgrade from Hold to Reduce, as SIA's share price had been supported by FY24's final DPS of 0.38, but will trade ex-dividend.
They cut their TP to 5.88 on a lower CY24F P/BV of 1.1x (+1 s.d. from mean) against P/BV of 1.2x (+2 s.d.) previously, i.e. 6% total return downside.