Yahoo! Philippines News - Latest Philippines News & International News Headlines: STOCKS NEWS SINGAPORE-CIMB downgrades Tiger Airways to 'neutral'

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STOCKS NEWS SINGAPORE-CIMB downgrades Tiger Airways to 'neutral' Sep 17th 2012, 01:56 CIMB Research downgraded Tiger Airways to'neutral' from 'outperform' and cut its target price to S$0.81from S$0.90 as tougher competition in Australia and higher fuelprices could delay it from turning profitable. "Tiger's fortunes ride on Tiger Australia breaking even,which could be delayed by pressure from the ongoingQantas-Virgin rivalry," said CIMB. The brokerage expects bigger losses for Tiger in fiscal 2013and cut its 2014-15 earnings per share estimate by 6 percent toreflect lower yields and losses in Philippines-based unit SEAIR. ...

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