SIA kept at 'hold' by OCBC with price target of $11.59

Stock Name: SIA
Company Name: SINGAPORE AIRLINES LTD

Research House: OCBC

Price Call: HOLD

Target Price: 11.59

SINGAPORE (Feb 10): OCBC is maintaining its "hold" call on Singapore Airlines (SIA) and raised its target price from $10.80 to $11.59.

In a research note today, OCBC observes that the airline reported a mixed set of 3Q results. Excluding Tiger Airways (Tigerair) consolidation, revenue grew 1% y-o-y to $3.9 billion on higher passenger revenue as yields increased 2.7%.