SIA Engineering cut to 'reduce' with lower target price of $3.95 by Phillip

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

Research House: Phillip Securities

Price Call: HOLD

Target Price: 3.95

SINGAPORE (Nov 6): Phillip Capital has downgraded SIA Engineering to "reduce" with a lower price target of $3.95.

In a Nov 6 report, analyst Richard Leow says he we is slashing down his estimates for SIA Engineering due lower maintenance frequency by airlines.

In 2QFY15, SIA Engineering's revenue dipped by 3.0% y-o-y and the lower contribution from Associates and JVs flowed through to the disappointing PATMI which plunged 40.7% y-o-y.