ST Engineering's New-Order Wins Show a Healthy Gain -- Market Talk

Dow Jones
2025/07/24

0237 GMT - Defence group ST Engineering's 2Q order wins gained 54% on year, says Citi's Luis Hilado in a note. Although new orders for its defense and public security division likely fell in 2Q from a quarter earlier, this was offset by an increase in the urban solutions and satellite communications segment. That said, he expects order win volatility across quarters, as projects are dependent on client timing. He estimates that urban solutions and satellite communications' 1H new orders likely more than doubled from six months earlier, and this segment should be the largest contributor to ST Engineering's 1H wins. Citi has a neutral rating and S$8.40 target price on the stock, which is up 6.65% at S$8.82. (megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

July 23, 2025 22:37 ET (02:37 GMT)

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