Brokers' take

SIA Engineering | Buy (upgraded) Target price: S$3.00 Dec 6 close: S$2.48 Maybank Kim Eng, Dec 6

SIA Engineering's share price, close to nine-year lows, has been on a decline for the past two and a half years due to growth concerns caused by structural changes in aviation maintenance, repair and overhaul (MRO).

SIA Engineering's quarterly results since have largely illustrated such growth challenges with operating metrics under pressure to the new demand norms. But we believe this adjustment process is close to its tail end.