ST Engineering Jumps 3.1%; RHB Keeps ST Engineering At 'Buy' Following $1.4 Billion Taiwan MRT Contract

Edge

04-16

Shekhar Jaiswal of RHB Bank Singapore has reiterated his "buy" call and $7.80 target price for Singapore Technologies Engineering after it won a $1.4 billion contract to provide turnkey rail services for the new Taichung MRT Blue Line in Taiwan.

The 14-year project is set to begin in 2Q25, expanding STE’s strong rail presence in Taiwan.

This latest win adds to the company's already all-time high outstanding order book of $28.5 billion, which provides three years of revenue visibility.

ST Engineering jumps 3.1% at 10:07 am, Apr 16th.

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