Can SingTel meet great earnings expectations in 2015?

It will struggle to beat the index next year.

This has been a good year for SingTel, with the stock consistently beating the index. Now, investors have bloated expectations for SingTel, but the firm might be unable to deliver in 2015.

According to CIMB, SingTel will struggle to beat the index in 2015. Its valuations are now expensive, and expectations to deliver are too high, leaving room for earnings disappointment.

“While M&A was a key growth pillar in the past, we sense that its expansion strategy has shifted from M&As to building its own logistics network across ASEAN. This is a slow, capital intensive process and will put SPOST in direct competition with local players that have an edge in the