0128 GMT - ST Engineering's record order backlog of S$33.2 billion in December 2025 underpins its earnings visibility, DBS Group Research's Jason Sum says in a research report. Following the restructuring of its loss-making satellite communications business and stronger order win momentum, DBS now forecasts the Singapore-listed company's core net profit to post 20% CAGR growth over 2025-2027. Drivers include maintenance, repair, and overhaul capacity expansion, faster project execution, and productivity improvements, the analyst says. DBS raises the stock's target price to S$12.40 from S$11.00 to partly reflect a valuation roll-forward, with an unchanged buy rating. Shares last closed at S$11.03. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 02, 2026 21:28 ET (01:28 GMT)
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