OCBC keeps 'hold' on SIAEC albeit with higher TP of $2.37

SIA Engineering’s (SIAEC) weaker-than-expected FY2021 results ended March 31 has led OCBC Investment Research to maintain its “hold” rating for the stock albeit with a higher target price of $2.37 from $2.23 previously.

On May 4, the aviation maintenance, repair and overhaul (MRO) service provider reported a net loss of $11.2 million on the back of lower revenue of $443 million.