SIA Engineering's stock fell sharply by 3.02% during Thursday's intraday trading session, underperforming the broader market.

The decline follows a downgrade by DBS Group Research from "buy" to "hold," with analysts stating that much of the positive outlook for the aircraft-maintenance company has already been priced in. While DBS acknowledges robust maintenance demand and potential capacity expansion, it sees limited upside for the stock at current levels. The bank maintains a target price of S$4.00.