Jaiswal’s new target price represents an upside of 15% to ST Engineering’s share price of $3.70 as at its close on Aug 2. The new target price, which includes a 6% environmental, social and governance (ESG) premium over the fair value of $4, also represents a yield of 4%.
RHB Bank Singapore analyst Shekhar Jaiswal is maintaining his “buy” call on Singapore Technologies Engineering (ST Engineering) (SGX:S63
) as he expects the stock’s strong share price performance to continue.
The analyst has also raised his target price on ST Engineering to $4.25 from $4.05 previously, noting that the stock’s share price has risen 10% year-to-date (ytd) and outperformed the benchmark Straits Times Index (STI) by 7%.
