SATS Tumbles 8.3% amid UOBKH Downgrades SATS to ‘Hold’, Lowers TP To $2.89 From $4.00 On Global Cargo Impact From Tariffs
UOB Kay Hian (UOBKH) analyst Roy Chen has downgraded his call on Sats Group to “hold” from “buy”, while slashing his target price (TP) to $2.89 from $4.00 previously in the process.
Chen’s call comes from the global impact of US president Donald Trump’s ‘Liberation Day’ tariffs on international trade.
Presently, he notes that it is still too early and difficult to quantitatively assess the full impact of the tariff war at this juncture.
SATS tumbles 8.3% at 3:16 pm, Apr 9th.
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