Singapore, January 14, 2026, 14:52 SGT — Regular session underway
- Singtel shares slipped 0.2% to S$4.49 in afternoon trading following a broker note that put the stock back in the spotlight
- DBS sticks to its “buy” rating, setting a S$5.71 target, pointing to a possible boost in ROIC as mobile pricing stabilizes
- Investors are looking ahead to the next earnings report for insights on ARPU, data centres, and capital returns
Shares of Singapore Telecommunications Ltd (Singtel) slipped 0.2% to S$4.49 by 2:41 p.m. on Wednesday, with around 8.9 million shares changing hands, valued at about S$40 million. Earlier, DBS Group Research reaffirmed its “buy” rating and set a S$5.71 target price, citing potential gains from improved return on invested capital (ROIC). The brokerage also highlighted a full sale of Singtel’s Australian arm, Optus, as a longer-term positive catalyst. (The Edge Singapore)
Why this matters now: Singtel is hovering near the upper end of its one-year range, a spot that often sparks volatility when broker opinions or interest rate forecasts shift. Investing.com lists the 52-week range between S$3.08 and S$4.92.
Singapore stocks kicked off 2026 on a strong note, drawing fresh capital into big, liquid shares. “January optimism or pessimism often reflects investor confidence,” said Carmen Lee, OCBC’s head of equity research, highlighting early-year portfolio shifts.
Singtel closed Tuesday at S$4.50, gaining 0.9%, per Yahoo Finance data.
DBS is sticking to a classic telco strategy: focus on extracting more value from current customers instead of pushing for subscriber growth. That shifts the spotlight back to ARPU — average revenue per user — and pricing discipline in Singapore.
Wednesday brought plenty of noise to broader markets. Asian stocks and precious metals surged to new highs as investors weighed softer U.S. inflation figures against fresh geopolitical developments and currency volatility.
Singtel bulls face a snag. Should mobile operators ramp up aggressive promotions, ARPU could slide once more, delaying the anticipated ROIC boost. Plus, setbacks in the data centre rollout or a drop in the value of listed associates would put additional pressure on the stock’s stability.
The company’s most recent update came in November, revealing a 14% jump in first-half underlying profit and forecasting stronger operating earnings from its core units. “We expect our growth engines to change the complexion of the business in the mid-term as they continue to scale,” Group CEO Yuen Kuan Moon said at the time. (Reuters)
Singtel has shareholder returns on its radar. Back in May 2025, it unveiled a $1.6 billion share buyback program and boosted its asset monetisation goal. That move propelled the stock to a nine-year peak at the time. (Reuters)
Investors are eyeing the next earnings report for a quicker read on trends. According to Investing.com, Singtel’s upcoming earnings release is set for Feb. 18, 2026. Traders will be watching closely to see if mobile pricing in Singapore is leveling off and whether investments in data centres are starting to pay off. (Investing)
