TigerAir - Tiger Airways cut to Neutral by DMG with $2.00 target

Stock Name: TigerAir
Company Name: TIGER AIRWAYS HOLDINGS LIMITED
Research House: DMG

DMG downgrades Tiger Airways (J7X.SG) to Neutral from Buy, trims target price to $2.00 from $2.13 after lowering FY11 earnings forecast by 6.2%, says Dow Jones.



Changes reflect recent slew of flight cancellations, higher staff costs as budget carrier offers higher compensation to attract pilots amid booming aviation industry.



Notes company has resorted to hiring qualified A-320 pilots on short-term contracts while its new batch of pilots undergo training, certification.



Shares off 1.0% at $1.98.