ST Engineering Likely Still a Defensive Earnings Growth Pick -- Market Talk

Dow Jones02-21

0743 GMT - Singapore Technologies Engineering is likely still a defensive earnings growth stock pick, RHB Research analyst Shekhar Jaiswal says in a research report. The technology and engineering group has a S$27.5 billion order book, which should provide almost three years of revenue visibility, and its commercial aerospace segment should benefit from higher maintenance, repair and overhaul earnings as aviation traffic improves gradually, the analyst says. The urban solutions & satcom segment's earnings should increase partly due to contribution from its TransCore acquisition, while its defence & public security segment's profitability should be underpinned by order delivery, the analyst adds. RHB raises the stock's target price to S$4.50 from S$4.45 with an unchanged buy rating. Shares are 0.3% higher at S$3.93. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 21, 2024 02:43 ET (07:43 GMT)

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