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What lies ahead for SIAEC at the Singapore Airshow?
It has a history of winning deals ever since 2008.
SIA Engineering (SIAEC) could be set to take off by potentially continuing its history of inking deals at the Singapore Airshow since it began in 2008, DBS Equity Research said.
According to a report, 2016 was one of SIAEC's better years, thanks to its Airbus joint ventures (JV) and work for Trent engines that it secured.
"Nonetheless every year’s Airshow thus far has brought with it some good news," said DBS analyst Suvro Sarkar.
Here's more from DBS Equity Research:
The market has rewarded SIAEC for its announcements of contracts/partnerships that have come in tandem with the Singapore Airshow. SIAEC’s share price was up an average of 4% in the 30 days after the last five Airshows and 8% 90 days after.
Notably, 2016’s bumper year saw its share price up almost 10% during the 90 days after the event, and in 2008 its share price was up 15% 90 days after, despite the broader STI being flattish in that same time period (amid a challenging time for markets during the GFC period).
The 2008 performance hints at our thesis that post-airshow positive newsflow provides support for SIAEC’s share price as a safe haven stock amid any market volatility. The current lofty valuations in the broader market could also lead to investor interest in laggard stocks.
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