SIA Engineering’s fiscal-1H13 results were in line with expectations, with 1H13 basic EPS of 12.47 cents at 49% of FY13 estimates, OCBC says.
While the company acknowledges the global economic environment is posing challenges to the aviation industry, it expects demand for the company’s core businesses will be sustained near-term, the house notes.
It raises its target to $4.14 from $4.04 after rolling valuations forward, keeping a Hold call. The stock is up 0.2% at $4.17.
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