Stock Name: ST Engg
Company Name: SINGAPORE TECH ENGINEERING LTD
OCBC said ST Engineering management had lowered its guidance for 2011 revenue and pre-tax profit to be comparable to 2010, versus higher revenue and pre-tax profit previously.
Company Name: SINGAPORE TECH ENGINEERING LTD
| Research House: OCBC | Price Call: BUY | Target Price: 3.01 |
OCBC Investment Research has lowered its target price on Singapore Technologies Engineering (STEG.SI) to $3.01 from $3.37, but maintained its buy rating.
ST Engineering, Singapore’s largest defence contractor and one of the world’s largest aircraft maintenance firms, is also involved in electronics, land systems and marine.
ST Engineering, Singapore’s largest defence contractor and one of the world’s largest aircraft maintenance firms, is also involved in electronics, land systems and marine.
OCBC said ST Engineering management had lowered its guidance for 2011 revenue and pre-tax profit to be comparable to 2010, versus higher revenue and pre-tax profit previously.
The company warned of uncertainties arising from the sovereign debt issue in Europe, the slowing American economy as well as the unrest in the Middle East and North Africa, OCBC noted.
The bank lowered its estimates for ST Engineering’s 2011 revenue and profit after tax and minority interests by 2.4% and 1.3%, respectively, to $6.05 billion and $503.2 million.
ST Engineering reported on Friday a 3% increase in its third-quarter net profit to $133.8 million from a year earlier, partly due to a writeback.
At 9:02 a.m., the stock was flat at $2.85.
No comments:
Post a Comment