Stock Analysis: New Telecom | Lianhe Zaobao

Zaobao
2025.08.25 10:14
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Singtel recommends buying, with a target price of 5.04 SGD and a closing price of 4.25 SGD (+1.19%). Since June last year, its stock price has been highly correlated with the market value of its core joint ventures in India, Thailand, Indonesia, and the Philippines. Bharti Airtel in India accounts for 53% of its valuation, with an expected ARPU of 280 INR by the end of FY2026, driving a 41% compound growth in earnings from FY2025 to FY2027. True Corporation in Thailand is expected to achieve a compound annual growth rate of 15% in earnings. Singtel anticipates a compound annual growth rate of 10% in earnings from FY2025 to FY2028