SIA Engine: Kim Eng maintains buy with TP of $5 based on 20X PE, leaving forecasts unchanged despite SIAE’s new 6 yr contract with Airbus to maintain SIA’s fleet of 5 A340-500, nothing that the number of A350-500 aircraft involved is not large and contributions from associates and joint ventures have been underperforming the rest of the business. …
Recommends that in the money investors to use further strength to cash out, as stock approaches previous peak of $5.
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