ST Engineering's Sizeable Contract Wins Serve as Near-Term Catalyst -- Market Talk
Dow Jones
Apr 06
0303 GMT - Singapore Technologies Engineering's sizeable contract wins in its defense business serve as near-term catalysts for its shares, says RHB Research's Shekhar Jaiswal in a note. The Singapore defense-engineering company's recent contract to design and supply platform systems for Kuwait's fleet of missile gunboats reinforces its earnings visibility, he says. His upbeat stance on the company is underpinned by a record S$33.2 billion orderbook. The stock could rise toward the valuation of regional defense peers as the company's defense business grows, he adds. RHB Research reiterates its buy rating and maintains its target price of S$12.30. Shares rise 1.3% to S$11.17. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
April 05, 2026 23:03 ET (03:03 GMT)
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