ST Engineering's Newest Data Center Should Boost Revenue -- Market Talk

Dow Jones06-27

0215 GMT - Singapore Technologies Engineering's fourth data center in Singapore should strengthen its digital business offerings, supporting revenue, Maybank Research analyst Krishna Guha says in a report. The data center would push ST Engineering's data-center footprint to over 30 megawatts, with a cumulative investment of S$400 million, Guha adds. "With capex spread over three years, we view the development as augmenting group revenue while keeping enough cover for the dividend," the analyst says. Maybank raises its target to S$4.60 from S$4.30 while keeping a buy rating on the stock, which was last 2.9% higher at S$4.31. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

June 26, 2024 22:15 ET (02:15 GMT)

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