OCBC downgrades SIAEC to 'sell' as virus weighs on travel demand
Singapore
OCBC Investment Research has downgraded SIA Engineering Company (SIAEC) to a "sell" and lowered its fair value estimate on the stock from S$2.86 to S$2.41, citing the effect that the novel coronavirus outbreak is likely to have on near-term demand for air travel.
Shares in the company, which provides aircraft maintenance, repair and overhaul services, closed S$0.02 or 0.8 per cent lower at S$2.57, after some 655,400 shares changed hands.
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