A recent revival in Marine order wins and the completion of the group’s acquisition of Middle River Aircraft Systems (MRAS) would serve as re-rating catalysts going forward, he adds.
SINGAPORE (Jan 15): RHB is maintaining its “buy” call on ST Engineering (STE) with a $3.97 target price, which implies 4% yield.
In a Tuesday report, analyst Shekhar Jaiswal says he expects STE to see a revival of profit growth due to increased capacity and capabilities in the Aerospace segment; delivery of smart city-related contracts both within and outside of Singapore; as well as defence-related contracts.
