0702 GMT - Singapore Technologies Engineering is expected to maintain strong earnings growth momentum this year, says Shekhar Jaiswal, RHB Singapore head of equity research, in a note. The integrated engineering group's 2024 net profit rose 20%. The company's international defense business, which saw strong new business in Europe in 2024, should continue to report strong order wins from the region this year amid elevated geopolitical uncertainty, Shekhar writes. RHB has a buy rating on the stock and a target price of S$5.90. Shares are up 2.5% at S$5.38. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 02:02 ET (07:02 GMT)
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