0545 GMT - ST Engineering's strong contract win momentum is likely to persist, UOB Kay Hian's Roy Chen says, noting its record-high order book of S$32.6 billion. As its international defence sales gain traction in Europe and the Middle East, the technology, defence and engineering group will probably win some new contracts in the near term, the analyst says in a research report. The brokerage lifts its earnings forecasts for the company by 2.9% for 2026, 5.1% for 2027, and 3.8% for 2028. It also upgrades the stock's rating to buy from hold and raises the target price to S$9.05 based on an estimated 26.1x 2027 price-to-earnings. Shares are 1.9% higher at S$8.65. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 17, 2025 00:45 ET (05:45 GMT)
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