SINGAPORE (Nov 3): Maybank is maintaining its “hold” call on SIA Engineering with a target price of $3.75 as valuations remain unattractive despite seeing some signs of a bottoming out.

In a Tuesday report, analyst Derrick Heng cut SIAEC’s estimated EPS for FY16 by 6% to reflect the weaker-than-expected results, but kept its FY/17-18 forecasts largely unchanged.

For 2QFY16, SIAEC’s net income of $44.5 million came in marginally below Maybank’s expectation.

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