ST Engineering upgraded to 'buy' by DBS

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

Research House: DBS Vickers

Price Call: BUY

Target Price: 3.40

DBS Vickers Securities in an Apr 10 research report says: "Engineering's shipbuilding and shiprepair arm ST Marine has won a EUR534.8 million ($880 million) contract to design and build 4 patrol vessels (PVs) and provide associated logistic support for the Royal Navy of Oman.

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