Singapore Stock Market News

SIA Engineering - Stock and fundamentals diverge

StockFanatic
Publish date: Tue, 09 Sep 2014, 04:11 PM
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Maintain SELL and TP of SGD4.20 (20x FY3/15E P/E). Changi Airport's flight traffic shrank 2.6% YoY in July. Worsening pressure on MRO demand.

■ MAS could accelerate the retirement of its B777s to focus on regional routes, in our view. SAESL's workload to be hit.

■ Rich valuations yet to price in coming slowdown.
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