Sum had downgraded his call on SIAEC to “hold” on Jan 14 due to limited upside and “execution risks” in achieving profitability in its engine and components segment. Shares in SIAEC closed at $3.64 on Jan 14, compared to its last-traded price of $3.13 as at Sum’s latest report dated April 30.
DBS Group Research analyst Jason Sum has upgraded SIA Engineering Co (SIAEC) to “buy” as he deems the stock to be worth buying at this point.
“After the 15% correction since our downgrade in January, valuations at -1 s.d. (standard deviations) and resilient aftermarket-driven earnings support a more favourable risk/reward,” he writes.
