United Engineers kept at 'hold' with higher target price of $3.02 by CIMB

Stock Name: United Engineers
Company Name: UNITED ENGINEERS LTD ORD

Research House: CIMB

Price Call: HOLD

Target Price: 3.02

SINGAPORE (Nov 18): CIMB is maintaining its 'hold' call on United Engineers with a higher target price of $3.02 from $2.84 previously.

In a report on Nov 14, analyst Tan Xuan said United Engineers' subsequent proposed sale of its automotive business, MFS Technology and stake in UE E&C have paved the way for a potential takeover by Thai billionaire Charoen Sirivadhanabhakdi.