0232 GMT - Singapore Technologies Engineering's earnings growth outpacing its segment revenue growth reinforces RHB Research's thesis that the company's margins will expand and earnings compound over multiple years. The Singapore defense engineering company continues to track its five-year targets, with the company guiding for net profit to continue outgrowing revenue by up to 5 percentage points through 2029, says analyst Shekhar Jaiswal in a note. Its order book and pipeline are likely to underpin revenue visibility, he adds. He raises his 2026-2028 recurring net profit estimates by 2.9%, 1.5% and 0.4%. RHB lifts its target price to 12.70 Singapore dollars from S$12.30 and reiterates its buy rating. Shares rise 2.9% to S$10.66.