Singapore Stock Market News

SIA Engineering - Engines stalled

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Publish date: Wed, 05 Nov 2014, 11:56 AM
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■ 2QFY3/15 EPS below due to lower revenue & margins. Interim DPS cut to 6 SGD cts from seven.

■ Cut FY3/15E-17E EPS by 22-25% and TP to SGD3.50 from SGD4.20, still at 20x FY3/16E P/E.

Reiterate SELL with de-rating catalysts from further earnings contractions.
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