Singapore Technologies Engineering's 2024-2026 profit growth is likely to be strong, RHB Research's Shekhar Jaiswal says in a research report.
Drivers are its commercial aerospace segment, for which growth will probably be facilitated partly by ongoing deliveries of its passenger-to-freighter aircraft, the analyst says.
Also, the technology and engineering group's urban solutions & satcom segment should see the fastest growth in 2023-2026 in terms of EBIT CAGR, supported by turnaround in the satcom business, the analyst adds.
RHB recommends investors keep ST Engineering's stock in their portfolios. RHB has a buy rating and a target price of S$5.20 on the shares, which are 0.6% higher at S$4.71.
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