Analysts upgrade SIA Engineering shares as growth, supply chain outlook improves

Analysts have upgraded SIA Engineering shares due to improved growth and supply chain outlook. CGS International raised its rating to "add" and UOB KayHian to "buy" after the company reported a 13.5% rise in net profit for the first half of the year. Analysts noted easing supply constraints and new growth initiatives, including expansion projects in Cambodia and Malaysia. Target prices were increased, with CGSI setting it at S$4 and UOB KayHian at S$3.92, reflecting confidence in the company's medium-term earnings potential and financial flexibility.