0321 GMT - Singapore Technologies Engineering's 2029 targets imply steady long-term growth, RHB Research's Shekhar Jaiswal says in a research report. The technology, defense and engineering group's successful achievements of its previous five-year targets suggest it can attain its 8.6% revenue and up to 13.6% profit CAGR targets for 2024-2029, the analyst says. Its Commercial Aerospace segment is expected to reach S$6.0 billion revenue by 2029, thanks to factors including investments in next-generation capabilities in composite aerostructures, the analyst says. Its Defence & Public Security segment could deliver over S$7.5 billion revenue by 2029, partly due to expanding its international defence business. RHB raises the stock's target price to S$7.80 from S$5.90 with an unchanged buy rating. Shares are 5.2% higher at S$6.91. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 23:21 ET (03:21 GMT)
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