ST Engineering rated 'buy' by OCBC

Stock Name: ST Engg
Company Name: SINGAPORE TECH ENGINEERING LTD

Research House: OCBC

Price Call: BUY

Target Price: 3.32

OCBC Investment Research in a Feb 24 research report says: "ST Engineering (STE) 4Q11 revenue fell 5% y-o-y to $1.5 billion but PATMI edged 2% higher to $152 million. For the full year, STE's FY2011 revenue remained flat at a tad shy of $6 billion while PATMI grew 7% to $528 million, missing consensus revenue and PATMI estimates by 8% and 4% respectively.

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