0331 GMT - Singapore Technologies Engineering is likely to offer stability and growth potential, OCBC Investment Research writes in a note. Based on June 3 closing prices, the technology, defense and engineering group has delivered year-to-date returns of about 70% compared with the Straits Times Index's 5%, OCBC notes. ST Engineering's share price performance was also "super-charged" by positive sentiment relating to global defense plays and its solid fundamentals, OCBC says. There are also positive structural trends for the company's urban solutions & satcom segment over the longer term, it adds. OCBC raises its fair value estimate of the stock to S$8.54 from S$7.75, while maintaining a hold rating. Shares are at S$7.94. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
June 04, 2025 23:31 ET (03:31 GMT)
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