Citi turns bearish on Singtel after calling DBS stock slump


Increasing security efforts: Singtel will work with the Cyber Security Agency of Singapore in research and development and to boost the country's cybersecurity talent pool.

SINGAPORE: Citigroup Inc’s research team hit the bullseye last month by warning investors about the risk to DBS Group Holdings Inc. shares ahead of earnings. Now, it’s aiming for two from two with a similar call on Singapore Telecommunications Ltd (Singtel).

South-East Asia’s largest mobile service provider is expected to announce first-quarter results on Aug 8 and according to Citi analyst Arthur Pineda, the numbers are set to “surprise on the downside”.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Singtel , DBS Group

   

Next In Business News

Powering on data centres
Medical insurance premiums on the rise
Blackstone, KKR mortgage REITs stung by office debt challenges
Making scents of success
Tesla’s plan for affordable cars takes page from Detroit rivals
Sapura Energy takes a step to turn the tide
Are there too many GPs and is the healthcare system overwhelmed?
Kelington to reap the benefits of a diversified business strategy
Investors brace for 5% Treasury yields
Singapore’s growth trajectory remains intact

Others Also Read