SIA Engineering kept at 'reduce' with lower target price of $3.62 by Phillip

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

Research House: Phillip Securities

Price Call: SELL

Target Price: 3.62

SINGAPORE (Feb 4): Phillip Securities Research today maintained a "Reduce" call on SIA Engineering Company, and trimmed its target price to $3.62, from $3.95, on the back of weaker results.

SIA Engineering released its third financial quarter result yesterday which saw revenue fell 6.5% on year to $265.3 million, mainly dragged by associates and joint-ventures businesses.

Accordingly, earnings also affected by 23.5% lower year-on-year to $46.3 million.