In a Monday report, analyst Neel Sinha says he sees SIA EC’s dominant franchise at Changi Airport is undervalued given that the stock is trading a 15% discount, or -1 s.d., to its 10-year forward P/E mean.
SINGAPORE (Feb 11): Maybank Kim Eng is maintaining its “buy” call on SIA Engineering (SIA EC) with a lower price target of $2.85 compared to $3 previously after the group reported a 40% y-o-y decline in 3Q19 earnings due to one-off items.
The research house has cut its FY19-21 PATMI estimates by 6%-13%, but remains positive on the stock’s medium-term outlook considering its management initiatives and current valuations.
