Land Transport Authority (LTA) to buy S$1 billion of SMRT assets under new rail financing framework. http://www.straitstimes.com/singapore/transport/new-rail-financing-framework-9-things-to-know-about-agreement-between-smrt-and?xtor=EREC-16-2[ST_Newsletter_PM]-20160715-[New+rail+financing+framework%3A+9+things+to+know+about+agreement+between+SMRT+and+Govt]&xts=538291
SMRT is currently trading at 24.1x forward P/E. Pre-announcement, the street has 4 Buy, 5 Hold, and 4 Sell calls on the counter with consensus TP of $1.63.
SMRT will be reporting results on 28 Jul with management expected to shed more light on how the rail reform will affect its future performance and outlook. http://bit.ly/ketrade-smrt-20160715
SMRT shares were halted on 15 July 2016. Ex-Dividend of S$0.025 per share is on 18 July 2016.
The technical resistance is at $1.550 and the next resistance is at 1.570.
The price support is at $1.525 and $1.485.
No comments:
Post a Comment