CIMB Research, Sept 16
WE leave our target price and estimates unchanged and maintain our "neutral" rating. We base our CY2014 target price of $10.50 on a trough multiple of 4.2x CY2014 EV/Ebitdar to reflect the long-term de-rating that we believe SIA is undergoing due to competition from Middle East airlines and low-cost carriers.
NEUTRAL
No comments:
Post a Comment