However, the revenue thus far is "marginally" below Tan's estimates.
Maybank Securities' Kelvin Tan has maintained his "buy" call and $4.10 target price on ST Engineering, following the engineering conglomerate's 1QFY2023 business update.
For the three months to March, ST Engineering (SGX:S63
) reported revenue of $2.3 billion, up 13% y-o-y, with growth across all its business segments, including TransCore, its US-based traffic management unit acquired for US$2.7 billion.
