This comes after the group last Friday announced 1Q17 earnings of $103 million – 6% down from the same quarter a year ago due to lower wage credit income, higher provisions for debt, as well as higher taxes and minority interest.
SINGAPORE (May 15): UOB Kay Hian has downgraded ST Engineering from “buy” to “hold” even as it raised its target price to $3.90 from $3.70 previously.
It recommends investors accumulate on dips, with a preference to buy closer to $3.60 for a 10% total return, inclusive of dividends.
