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CGS-CIMB lowers forecasts for SIA Engineering given recovery uncertainty

Broker's Calls

CGS-CIMB lowers forecasts for SIA Engineering given recovery uncertainty

Jeffrey Tan Published on Tue, May 12, 2020 / 2:14 PM GMT+8

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SINGAPORE (May 12): Given the uncertain pace of recovery in the aviation industry, CGS-CIMB Research has turned cautious on SIA Engineering’s prospects ahead.

The brokerage has cut its earnings per share (EPS) forecast for the company by 74% in FY21 and 49% in FY22.

It has also lowered its revenue forecast for the company by 50% in FY21, but flat in FY22.