"ST Engineering's near-term catalysts include sizeable international defence awards, commercial aerospace capacity ramp-up translating into margin expansion, and clearer strategic direction for Satcom," says Jaiswal, noting that the company has built up an order book of $33.2 billion.
Shekhar Jaiswal of RHB Bank Singapore has joined the wave of analysts upgrading their target prices for Singapore Technologies Engineering, with expectations that this counter, poised for steady earnings growth, deserves further re-rating to be in line with regional defence peers.
In his March 25 note, Jaiswal maintains his call at "buy" along with a higher target price of $12.30 from $11.70.
