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Revisions

DBS upgrades SIA Engineering to 'hold', raises TP as air travel gradually resumes

Broker's Calls

DBS upgrades SIA Engineering to 'hold', raises TP as air travel gradually resumes

Jeffrey Tan Published on Mon, Jun 08, 2020 / 10:54 AM GMT+8

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SINGAPORE (May 8): As Singapore resumes air travel to several cities in China and is in discussions with several other countries, the outlook appears less cloudy for SIA Engineering, according to DBS Group Research.

This has prompted DBS to upgrade the stock to “hold” from “fully valued” and raise its target price to $2.30 from $1.35, previously.

The brokerage has also raised its FY21 earnings forecasts by about 28%.

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