SIA - The best airline in the world?

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

05/24/10 AmFraser SIA 14.16 18.6 Buy EV/Ebitda 6x

05/24/10 CIMB SIA 14.22 18.6 Outperform PER14x
07/27/10 CIMB SIA 14.76 18.6 Outperform PER14x
07/29/10 CIMB SIA 15.46 18.85 Outperform PER14x
09/16/10 CIMB SIA 16 18.85 Outperform PER14x
11/08/10 CIMB SIA 16 18.85 Outperform PER14x
11/10/10 CIMB SIA 16.32 18.85 Outperform PER14x
11/11/10 CIMB SIA 16.12 20.5 Outperform PER11x
01/04/11 CIMB SIA 15.4 20.5 Outperform PER11x
01/26/11 CIMB SIA 15.12 20.5 Outperform PER11x
01/28/11 CIMB SIA 15.04 20.5 Outperform
01/31/11 CIMB SIA 15.04 20.5 Outperform PER11x
03/16/11 CIMB SIA 13.1 16.2 Outperform PER9x
03/28/11 CIMB SIA 13.46 16.2 Outperform PER11x

07/27/10 Citigroup SIA 14.76 16 Buy

10/19/10 Credit Suisse SIA 16.02 18.5 Outperform
02/11/11 Credit Suisse SIA 14.12 18.5 Outperform

05/25/10 DBS Vickers SIA 14.22 18.2 Buy PB1.5x
07/27/10 DBS Vickers SIA 14.76 18.2 Buy PB1.5x
07/28/10 DBS Vickers SIA 15.02 18.4 Buy PB1.5x
07/30/10 DBS Vickers SIA 15.68 18.62 Buy PB1.5x
08/20/10 DBS Vickers SIA 15.5 18.62 Buy
09/06/10 DBS Vickers SIA 15.6 18.62 Buy
09/27/10 DBS Vickers SIA 16.2 18.62 Buy
11/10/10 DBS Vickers SIA 16.32 18.74 Buy PB1.5x
11/22/10 DBS Vickers SIA 15.96 18.74 Buy
11/23/10 DBS Vickers SIA 15.96 18.74 Buy
12/13/10 DBS Vickers SIA 15.78 18.74 Buy
01/31/11 DBS Vickers SIA 15.04 18.56 Buy PB1.5x
02/22/11 DBS Vickers SIA 14.34 18.56 Buy
03/11/11 DBS Vickers SIA 13.86 17.3 Buy PB1.4x
05/04/11 DBS Vickers SIA 14.04 17.3 Buy PB1.4x

02/11/11 DIR SIA 14.12 15 Hold

05/19/10 DMG & Partners SIA 14.56 17.82 Buy PER16x
05/24/10 DMG & Partners SIA 14.16 17.82 Buy PER16x
06/16/10 DMG & Partners SIA 14.82 17.82 Buy PER16x
07/16/10 DMG & Partners SIA 15.04 17.82 Buy PER16x
07/27/10 DMG & Partners SIA 14.76 17.82 Buy PER16x
07/28/10 DMG & Partners SIA 14.46 17.82 Buy PER16x
07/30/10 DMG & Partners SIA 15.46 17.9 Buy
09/06/10 DMG & Partners SIA 15.6 17.9 Buy
09/17/10 DMG & Partners SIA 16.04 17.9 Buy
09/22/10 DMG & Partners SIA 16.04 17.9 Buy
11/10/10 DMG & Partners SIA 16.32 18.5 Buy PER13x
11/12/10 DMG & Partners SIA 16.12 18.5 Buy
12/02/10 DMG & Partners SIA 15.84 18.5 Buy PER13x
12/21/10 DMG & Partners SIA 15.18 18.5 Buy PER13x
01/05/11 DMG & Partners SIA 15.18 18.5 Buy
01/31/11 DMG & Partners SIA 15.04 18.5 Buy PER13x
02/02/11 DMG & Partners SIA 14.7 17.2 Buy
02/25/11 DMG & Partners SIA 13.66 17.2 Buy
03/16/11 DMG & Partners SIA 13.1 14 Neutral
03/17/11 DMG & Partners SIA 13.2 14 Neutral
03/30/11 DMG & Partners SIA 13.32 14 Neutral

04/29/11 Goldman Sachs SIA 14.08 17 Buy

03/03/11 HSBC SIA 13.34 16.5 Buy

07/27/10 JP Morgan SIA 14.76 18 Buy
11/11/10 JP Morgan SIA 16.12 20 Overweight PB1.6x

05/24/10 Kim Eng SIA 14.16 18.9 Buy
05/25/10 Kim Eng SIA 14.22 18.9 Buy PB1.7x
06/16/10 Kim Eng SIA 14.82 18.9 Buy PB1.7x
07/16/10 Kim Eng SIA 15.04 18.9 Buy PB1.7x
07/27/10 Kim Eng SIA 14.76 18.9 Buy PB1.7x
07/29/10 Kim Eng SIA 15.46 18.9 Buy PB1.7x
08/17/10 Kim Eng SIA 15.46 18.9 Buy
09/16/10 Kim Eng SIA 16 18.9 Buy
10/18/10 Kim Eng SIA 16.22 18.9 Buy
11/11/10 Kim Eng SIA 16.12 18.9 Buy
12/16/10 Kim Eng SIA 15.46 18.9 Buy
01/18/11 Kim Eng SIA 15.28 18.9 Buy
01/31/11 Kim Eng SIA 15.04 18.9 Buy PB1.6x
02/16/11 Kim Eng SIA 14.44 18.9 Buy PB1.6x
02/17/11 Kim Eng SIA 14.2 18.9 Buy PB1.6x
03/17/11 Kim Eng SIA 13.2 14.4 Hold PB1.2x
04/18/11 Kim Eng SIA 14.08 14.4 Hold

09/06/10 Lim & Tan SIA 15.6 0 Buy
12/01/10 Lim & Tan SIA 15.42 0 Buy

03/15/11 Macquarie SIA 13.64 17 Outperform

12/06/10 OCBC SIA 15.78 18.74 Buy

09/06/10 phillip SIA 15.6 15 Hold
11/11/10 phillip SIA 16.12 16.34 Hold
12/17/10 phillip SIA 15.26 16.34 Hold
12/23/10 phillip SIA 15.22 16.34 Hold PB1.3x
01/19/11 phillip SIA 15.38 16.34 Hold PB1.3x
02/01/11 phillip SIA 14.76 16.59 Buy PB1.3x
03/16/11 phillip SIA 13.1 15.43 Buy PB1.2x

07/27/10 UBS SIA 14.76 16.5 Buy

12/16/10 UOB Kay Hian SIA 15.26 15.9 Hold
02/28/11 UOB Kay Hian SIA 13.86 15 Buy
03/10/11 UOB Kay Hian SIA 13.86 15.9 Buy
04/13/11 UOB Kay Hian SIA 13.58 15 Buy
04/15/11 UOB Kay Hian SIA 14.02 15 Buy