ST Engineering's Share-Price Outperformance Likely to Continue -- Market Talk

Dow Jones

2024-09-18

0332 GMT - Singapore Technologies Engineering's share price is set to continue outperforming the FTSE Straits Times Index, RHB Singapore research analyst Shekhar Jaiswal writes in a note. The engineering and technology group remains well positioned to post a profit CAGR of 15% and steady dividends over 2023-2026, the analyst says. Its earnings growth will be supported by strong demand for aviation maintenance, repair and overhaul services and a potential recovery in the urban solution and satcom segment, the analyst adds. With about 39% of the company's debt exposed to floating interest rates, RHB expects further earnings tailwind from expected interest-rate cuts. RHB has a buy rating on the stock and a target price of S$5.32. Shares are 0.2% higher at S$4.65. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

September 17, 2024 23:32 ET (03:32 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"SGGKY":"Singapore Technologies Engineering Ltd.","S63.SI":"新科工程"},"translate_title":"ST Engineering的股价表现可能会持续下去——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"S63.SI":1,"SGGKY":0.9},"content_text":"0332 GMT - Singapore Technologies Engineering's share price is set to continue outperforming the FTSE Straits Times Index, RHB Singapore research analyst Shekhar Jaiswal writes in a note. The engineering and technology group remains well positioned to post a profit CAGR of 15% and steady dividends over 2023-2026, the analyst says. Its earnings growth will be supported by strong demand for aviation maintenance, repair and overhaul services and a potential recovery in the urban solution and satcom segment, the analyst adds. With about 39% of the company's debt exposed to floating interest rates, RHB expects further earnings tailwind from expected interest-rate cuts. RHB has a buy rating on the stock and a target price of S$5.32. Shares are 0.2% higher at S$4.65. (amanda.lee@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 17, 2024 23:32 ET (03:32 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}