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.