Tiger Air: -3.1% at $1.89. Credit Suisse last Friday, initiated at Underperform with $1.85 target. We note that the market continues to be concerned about i) recent flight cancellations, ii) potentially higher operating costs associated with pilot shortages experienced by the budget carrier, iii) lack of updates regarding the JV with Thai Airways, which appears to be under much scrutiny from the Thai Ministry of Transport…
UOBK has a negative near term technical outlook, given the recent break of uptrend line. Advises investors to watch for the $1.87 support level, which if broken could indicate further downside to $1.69.
Nevertheless we note Morgan Stanley’s recommendation for longer-term investors to accumulate near $1.80 levels.
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