SINGAPORE (Oct 17): OCBC Investment Research is upgrading Singapore Airlines to “buy” with $10.71 peak fair value as the stock is trading at depressed valuations with negative news likely priced in.

In a Wednesday report, analyst Low Pei Han says SIA is now trading at its 52-week low of $9.15. This is close to the 2008 crisis low of $9.05 and 11% higher than the 2002-2003 Sars crisis low of $8.25. The stock is trading at just 0.8 times consolidated forward book, close to its 2008 lows as well, adds Low.

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