ST Eng

ST Eng: Deutsche issued a note maintaining Buy with TP $3.95 citing higher air traffic and capacity gains. 4Q2010 Global air traffic by passenger travels increased 9% yoy and capacity in seat miles increased 8%yoy…

IATA has also pointed to 7.5% yoy growth in capacity from planned airline increases over the nxt 6 mths. Both increased traffic and increase in capacity are expected to benefit service providers such as ST Aeropace. ST Eng trades at trailing P/E of 21.32x, fwd P/E 21.06.