SIA Engineering upgraded to "hold", target raised to $4.90 by UOB Kay Hian

Stock Name: SIA Engineering
Company Name: SIA ENGINEERING CO LTD

Research House: UOB KayHian

Price Call: HOLD

Target Price: 4.50

SINGAPORE (Oct 31): UOB Kay Hian has upgraded SIA Engineering to "hold" from "sell" and raised its price target to $4.90 from $4.50, saying the company's planned foray into India's aircraft maintenance, repair and overhaul (MRO) market is positive.

SIA Engineering and Boeing are said to have submitted a notice to the Competition Commission of India outlining plans to establish a joint-venture company to provide MRO services for Boeing aircraft.