0803 GMT - Singapore Technologies Engineering's order wins are poised to support growth beyond 2024, RHB Research's Shekhar Jaiswal says in a research report. Earlier this month, the technology and engineering group unveiled a strong S$4.3 billion of orders won for 4Q 2024, the analyst notes. This winning streak has persisted in 2025, as its commercial aerospace business has recently secured maintenance, repair and overhaul contracts for aircraft engines with two major Middle Eastern operators, the analyst says. The company's earnings outlook remains positive, says RHB, which expects CAGR of roughly 15% for 2023-2026. RHB has a buy rating and target price of S$5.20 on the shares, which are 1.2% higher at S$5.06. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 03:03 ET (08:03 GMT)
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