Singtel share price to hit the roof

For Singtel investors, the view from the top must be surreal. As Singtel share price crossed the $5 mark in February 2026, many long-time holders found it almost unimaginable—especially given the significant challenges the telco has faced over the years. In this regard, I am not surprised to see die-hard fans pinching themselves. After a decade of underperforming, Singtel share price suddenly popped in 2025, to the amazement of most investors. Many of them must have thought that this day will not arrive, but it finally did.

This explosive rally of Singtel share price didn’t just break price records; it reshuffled the STI leadership. Singtel’s surging valuation saw the telco knock UOB off its long-held perch to become the third-largest company by market capitalization in Singapore.

Currently, Singtel is hot on the heels of second-placed OCBC, trailing by only a slight margin as it cements its comeback. This is indeed sweet revenge for Singtel investors as the telco used to be the leading light in STI until the banks usurped its throne 10 years ago.

From its IPO in 1993 all the way through the early 2010s, Singtel was almost always the #1 largest listed company in Singapore. In 2008, for example, its market cap was around $62 billion, comfortably ahead of the banks. The rise of DBS (led by the charismatic Piyush Gupta), coupled with the various ill-fated tech investments by former Singtel CEO, had caused Singtel share price to lose its way big time.

All credits must go to CEO Yuen Kuan Moon for turning around Singtel. Successful turnarounds are so rare in Singapore corporate world that many naysayers have written off Singtel share price. However, Yuen Kuan Moon have silenced all critics as he navigates Singtel through choppy waters and makes Singtel great again. In the course of doing so, he has become another corporate legend like Piyush Gupta (former DBS CEO).

The centre-piece of Singtel’s comeback is the $2 billion value realization shares buybacks programme. Spanning across three years till 2028, this share buybacks programme is unique because Singtel is cancelling the shares it repurchases. By reducing the total share count, the company effectively boosts its Earnings Per Share (EPS). This fundamental shift has the potential to turbocharge Singtel share price to even greater heights in the coming years.

In Q1FY2026, Singtel has ramped up its share buybacks significantly despite Singtel share price being traded at its highest for the past 2 decades. From January to February 2026, the telco bought back 29.3 million of shares at average price of $4.80. From 27 Feb to 5 March, Singtel bought back 10.1 million of shares at average price of $4.92. At the point of writing, 41.4 million of shares were bought back at a cost of $201 million. This means that Singtel is only 10% through its $2 billion value realisation share buyback programme.

Singtel share price in supersonic form!

Singtel share price at 8-year high!

The aggressive shares buyback programme certainly provide support to Singtel share price. Year-to-date, the counter increased 8.9% despite the challenging operating environment. However, the rally of Singtel share price also led to compressed dividend yield for investors entering at current valuation. Assuming projected dividends of 18 cents, the dividend yield would be 3.64%, which is not fantastic but decent. In this article, I will share my insights on the outlook of Singtel share price in 2026.

Note that this is an opinion article and not meant to be a financial advice. Please do your due diligence or engage financial advisors before investing in the stock market. Furthermore, I am not vested and have never invested in Singtel before. Whether Singtel share price will surge or collapse has no impact on me. Thus, this article is not meant to induce readers to make any form of investment decisions.

The catalysts for Singtel share price in 2026

Investors who bought into Singtel shares should be gunning for capital appreciation rather than dividend yield. Question now is what are the key catalysts that could possibly drive Singtel share price to new heights of $6 or $7 in the near future? In my opinion, the first and foremost driver for Singtel share price has to be [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]

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