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SIA Engineering
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SIA Engg
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daphnecsf
Senior |
01-Feb-2010 13:58
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SIA Engineering Co rated buy Written by The Edge 01 Feb 2010 DBS Vickers Securities in a Jan 29 research report says: "Revenue for the quarter came in at $241.5 million, down 11% y-o-y, owing to the expected slowdown in MRO spending, as a result of capacity cuts by most major airlines in 2009. In line with lower revenues, net profit of $56.0 million was also down 11% y-o-y. "Operating margin of 9% was lower sequentially, largely because of the absence of one-off gains like Job Credits. Cash flows, however, remained strong, and despite interim dividend payment of $54 million, net cash increased to $324.7 million. Our estimates for FY2010 and FY2011 earnings remain intact, given the “in line” set of numbers. Our outlook for a recovery in the MRO market, on the back of airlines restoring capacity in 1H-2010, remains intact as well. "Revised target price of $3.80, as we roll over our valuations to FY2011. Trading at a forward PE of 15x, SIE valuations still compare favourably with its peak cycle valuations of 18-20x. MAINTAIN BUY." |
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Blastoff
Elite |
13-Oct-2009 07:14
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Thanks for the information. 
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Hellangel
Member |
12-Oct-2009 17:49
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DBS Vickers (Spore) SIA Engineering: Time to get on board (BUY, upgradefrom HOLD; S$2.61; Price Target : 12-Month S$ 3.00 ; SIE SP Price Target : 12-Month S$ 3.00 Reason for Report : New contract win Potential Catalyst: Sustained uptrend in air travel, M&A
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Blastoff
Elite |
12-Oct-2009 16:34
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Anyone knows why a sudden surge in this stock today? | ||||
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