UBS is maintaining its "neutral" call on SingPost with a lower price target of $1.53 while CIMB is keeping its "hold" with an unchanged target price of $1.49.
SingPost on Thursday posted a decline in 1Q17 earnings to $35.9 million, down 23% on the absence of one-off gains. This was significantly worse than UBS's net profit estimate of $43.2 million, but in line with CIMB's full-year forecast.
Excluding one-offs, recurring net profit was $38.5m, down 11% from a year ago.
A quarterly interim dividend of 1.5 cents was declared.
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