ST Engineering's Projected Earnings-Per-Share Growth Likely Priced In -- Market Talk

Dow Jones
04/02

0256 GMT - Singapore Technologies Engineering's projected core earnings-per-share growth has likely been priced in, say CGS International's Lim Siew Khee and Meghana Kande in a note. The defense engineering group's latest contract win reinforces its growing presence in the Middle East, where it has secured around S$1.1 billion in defense orders so far this year. However, the analysts expect order conversion in its defense and public security segment to be irregular, while its commercial aerospace segment could see some customers delaying non-critical orders amid elevated jet fuel prices. CGS downgrades its rating on ST Engineering to hold from add, noting it is trading at a premium over larger defense peers' valuations. The brokerage retains its S$11.05 target price. Shares fall 1.0% to S$10.99. (megan.cheah@wsj.com)

 

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April 01, 2026 22:56 ET (02:56 GMT)

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