SINGAPORE (Aug 11): RHB says Singtel’s stock has outperformed its peers by 10-12% year-to-date, reflecting its regional exposure and lower susceptibility to deepening domestic competition, and continues to be its preferred Singapore’s telco pick.

“We make no change to our forecasts, ‘neutral’ recommendation and SOP target price of S$3.90. Management has reinstated the previous guidance with a one-time gain of S$2 billion to be booked in 2Q18 from the recent sell-down in NetLink Trust pursuant to its recent IPO,” says RHB.

In 1Q18, core earnings fell 3.5% y-o-y from the combination of... (Click here to read the full story.)