0657 GMT - SATS faces an earnings hit from the tariff war, which poses substantial uncertainties for the global trade outlook in the medium term, UOB Kay Hian's Roy Chen says in a research report. SATS, because of its significant revenue exposure to the global and U.S. air cargo handling business, is poised to be hurt by a potential setback in globalization and decline in global trade volume, the analyst says. The brokerage cuts its air cargo volume projections for the Singapore-listed air cargo handler by 5% and lowers its earnings projections for SATS by 17%-18% for FY 2026-2027. It downgrades the stock's rating to hold from buy and lowers the target price to S$2.89 from S$4.00. Shares are 1.1% lower at S$2.62. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 11, 2025 02:57 ET (06:57 GMT)
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