DBS Group Research analysts Suvro Sarkar and Jason Sum have maintained “hold” on SIA Engineering with a higher target price of $1.80 from $1.60 previously.

“Our revised target price (TP) of $1.80 factors in broader market valuation uplift and is based on a blended valuation framework (P/E, EV/EBITDA, dividend yield and discounted cash flow or DCF). We factor in a 20% merger and acquisition (M&A)/ privatisation premium to derive our TP,” they write in a Feb 1 report.

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