This, they note, was because tariff impact was “not as bad”.
Lim Siew Khee and Meghana Kande of CGS International (CGSI) have downgraded their call on Singapore Technologies Engineering (ST Engineering) to “hold” from “add” previously after believing that the stock’s price, now trading three standard deviations (s.d.) higher than its historical average, factors in a 13% FY2026 earnings per share (EPS) growth.
In the 1HFY2025 ended June, ST Engineering’s net profit grew over 20% y-o-y to $403 million, coming in-line with Lim and Kande and Bloomberg consensus expectations, at 49% and 48% of full-year forecasts, respectively.
