Maybank set SGD 5.21 target for Singtel stock

Published on 10/12/2026 at 09:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The note kept a Buy rating and set SGD 5.21 on October 7, 2026. Singtel stock costs EUR 2.92 on October 12, 2026 at a SGD 68.6 billion market value.

Key points in brief

Maybank set a SGD 5.21 target and retained a Buy rating for Singtel on October 7, 2026.
Singtel reported SGD 831 million in underlying net profit for the first quarter of fiscal 2027, up 21.00 percent year over year.
The stock was at EUR 2.92 at Lang & Schwarz on October 12, 2026 at 9:12 a.m. CEST.
Singtel's SGD 2.0 billion buyback program could lift earnings per share by 3.00 percent after completion.

Singtel, SG1T75931496, Illustration mit AI erstellt.

Maybank had retained a Buy rating and set a SGD 5.21 price target for Singtel on October 7, 2026, according to Business Insider. Singtel stock was at EUR 2.92 at Lang & Schwarz on October 12, 2026 at 9:12 a.m. CEST, giving German investors a live euro reference while the Singapore listing remained the primary market.

Three events shape the case

On August 12, 2026, Singtel reported underlying net profit of SGD 831 million for the first quarter of fiscal 2027, up 21.00 percent from SGD 686 million a year earlier, according to MarketWatch. The same quarter produced SGD 3.6 billion in operating revenue, up 4.90 percent year over year.

On September 21, 2026, Macquarie cut its target from SGD 5.29 to SGD 4.98 while keeping an Outperform rating, citing lower values for regional associates and currency pressure, as Brief Asia reported on September 22, 2026. The revised target was still 12.75 percent above the SGD 4.42 Singapore share price cited in that report.

On October 7, 2026, Maybank's SGD 5.21 target added a second dated analyst reference. Its target stood 17.87 percent above the SGD 4.42 price cited in the Macquarie report, but the two figures came from different dates and currencies than the euro quote used for this article.

What do buybacks add?

Singtel's capital-return plan remains a central part of the valuation story. The Value Realisation Share Buyback program aims to return up to SGD 2.0 billion over three years, and management expects a permanent 3.00 percent earnings-per-share lift once the repurchased shares are canceled, according to The Smart Investor. Singtel had spent SGD 948.6 million on market buybacks during the first eight months of 2026, equal to 45.00 percent of Singapore-listed repurchases in that period.

The operating picture is mixed beneath the capital return. Optus earnings before interest and taxes rose 14.00 percent year over year to AUD 152 million, while NCS earnings before interest and taxes increased 29.00 percent to SGD 102 million. Singtel Singapore earnings before interest and taxes fell 2.00 percent to SGD 230 million, showing the competitive pressure in the home market.

Price and investor reference

The current euro quotation places Singtel at EUR 2.92 at Lang & Schwarz on October 12, 2026 at 9:12 a.m. CEST, in the Xetra trading window for German investors. The primary Singapore quote was SGD 4.18 on October 12, 2026 at 7:04 a.m. UTC, with a market capitalization of SGD 68.6 billion and a 52-week range of SGD 4.15 to SGD 5.27.

The further course of trading is shown by the continuously updated real-time quote of Singtel stock.