Stock Name: SIA Engg
Company Name: SIA ENGINEERING CO LTD
Company Name: SIA ENGINEERING CO LTD
| Research House: Maybank Kim Eng | Price Call: HOLD | Target Price: 4.00 |
Maybank Kim Eng raised its target price on airline maintenance and servicing company SIA Engineering Co. to $4.00 from $3.60 and kept its “hold” rating, citing its healthy full-year earnings and attractive dividends.
Shares of SIA Engineering were nearly flat at $3.99 and have gained about 16% so far this year.
Maybank said SIA’s earnings growth should be steady, supported by healthy airline capacity growth forecasts and an increase in commercial aircraft traffic at Singapore’s Changi Airport.
SIA Engineering reported a net profit of $269 million for its fiscal year ended March 2012, a 4% increase from the previous year and was in line with Kim Eng’s expectations.
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