In his April 4 note, Sum says that ST Engineering has chalked up a record order book of $28.5 billion as of Dec 2024.
Jason Sum of DBS Group Research has maintained his "buy" call on ST Engineering given its clear earnings growth visibility.
Even with its recent run-up of more than 40% year to date, Sum believes that the stock's valuation is still undemanding relative to global peers. As such, he has raised his target price from $6 to $7.50.
