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SINGY - Singapore Airlines: Back To Hold (Rating Downgrade)
Singapore Airlines Ltd ADR
2024-02-01 00:22:32 ET
Summary
Singapore Airlines stock was initially rated as a hold but was later upgraded to a buy due to improved investment opportunities. We now alter our rating once again.
Since the upgrade, the stock has appreciated by 17.5%, but stronger performance is desired.
The company's H1 2024 results showed a strong rebound in passenger traffic but declining unit revenues and potential challenges in the cargo business.