In the 1QFY2025, the group secured around $4.5 billion worth of new contracts, with the commercial aerospace (CA) segment sercuring $1.3 billion in maintenance, repair and overhaul (MRO) and systems contracts, which included LEAP engine maintenance and Boeing 787 services.
RHB Bank Singapore (RHB) analyst Shekhar Jaiswal is keeping his “buy” call on Singapore Technologies Engineering (SGX:S63
) (ST Engineering) at a raised target price (TP) of $8.30 from $7.80 previously.
He writes in his May 7 report: “We raise our forward target multiples to capture the ongoing strong order wins momentum and the upside risks to our longer-term earnings estimates, which remain below ST Engineering's targeted growth for the FY2024 to FY2029 period.”
