SINGAPORE (Oct 10): UOB KayHian is placing SIA Engineering’s “sell” recommendation and S$3.60 target price under review, pending the release of its interim earnings in November.
UOB has been bearish on SIAEC for almost three years. The stock now trades at a “more reasonable” 21 times FY18 forward earnings, but the house prefers to wait for better catalysts before re-rating the stock.
These include stable staff costs, improving line maintenance earnings and higher JV and associate income or at least guidance along...(click on link for full story on theedgesingapore.com)