Stock Name: ST Engg
Company Name: SINGAPORE TECH ENGINEERING LTD
ST Engineering [PDF] Rewards outweigh risksSTE SP / STEG.SI | OUTPERFORM - Maintained | Share Price S$3.08- Tgt. S$3.49 Conglomerate | - bySiew Khee LIM
STE emerged stronger this crisis,delivering 7% earnings growth vs. its 6% earnings contraction during theGFC. Net profit also surpassed its peak in 2007 with sustainable growthexpected ahead. FY11 net profit meets expectations at 101% of our forecastand 96% of consensus. A final dividend of S$0.125 brings FY11 DPS to S$0.155(90% payout). We refine our EPS for FY12-13 by 1-2% and introduce FY14.Maintain Outperform and target price, based on blended valuations.
Source: CIMB 24 February 2012
Company Name: SINGAPORE TECH ENGINEERING LTD
| Research House: CIMB | Price Call: BUY | Target Price: 3.49 |
ST Engineering [PDF] Rewards outweigh risksSTE SP / STEG.SI | OUTPERFORM - Maintained | Share Price S$3.08- Tgt. S$3.49 Conglomerate | - bySiew Khee LIM
Source: CIMB 24 February 2012
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