Stock Name: SIA Engg
Company Name: SIA ENGINEERING CO LTD
Company Name: SIA ENGINEERING CO LTD
| Research House: CIMB | Price Call: BUY | Target Price: 4.56 |
Target S$4.56
SIA Engineering has all the ingredients of a quality stock: stable earnings growth, high ROEs, net cash, attractive dividend yields and undemanding valuations against peers. We peg a higher P/E of 15x (5-year mean) in our blended valuation (previously 10x on recession trading band) following a more positive MRO outlook. We refine our EPS as we update some assumptions. Maintain Outperform with catalysts anticipated from strong earnings growth.
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