Stock Name: ST Engg
Company Name: SINGAPORE TECH ENGINEERING LTD
Research House: OCBC
The broker said that ST Engineering’s 2011 outlook remains positive as its management expects its electronics, land systems and marine segments to deliver a higher turnover. In addition, the firm cited an order book of $11.5 billion.
Company Name: SINGAPORE TECH ENGINEERING LTD
Research House: OCBC
OCBC Investment Research has raised its target price for Singapore Technologies Engineering (STEG.SI), the world’s largest aircraft repair firm, to $3.71 from $3.68 and maintained its buy rating.
OCBC said ST Engineering’s fourth quarter 2010 net profit exceeded its expectations as a better sales mix and improved operating efficiencies helped net profit rise 11% from a year ago to $144 million.
OCBC said ST Engineering’s fourth quarter 2010 net profit exceeded its expectations as a better sales mix and improved operating efficiencies helped net profit rise 11% from a year ago to $144 million.
The broker said that ST Engineering’s 2011 outlook remains positive as its management expects its electronics, land systems and marine segments to deliver a higher turnover. In addition, the firm cited an order book of $11.5 billion.
ST Engineering, part-owned by Singapore state investor Temasek Holdings (TEM.UL), is also the city-state’s main defence contractor.
At 10:10 a.m., shares of ST Engineering were up 1.27% at $3.19 on a volume of 811,000 shares.
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