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ST Engineering's Record Order Book Boosts Earnings Outlook -- Market Talk

Dow Jones Newswires ·  Nov 11, 2021 12:10

0406 GMT - Singapore Technologies Engineering's record order book of S$18.2 billion, helped by S$1.82 billion in new orders in 3Q, is boosting its earnings outlook over the next 12 months, RHB Research says. The sequential improvement in its commercial aerospace business is a near-term catalyst, with the broker noting S$1.03 billion of new orders in the sector in 3Q versus 2Q's S$872 million and S$572 million in 1Q. Rising global vaccination rates is another tailwind, with an improvement in business activity also likely to support earnings, it says. RHB keeps a buy rating and S$4.85 target price on the stock, which rises 0.3% to S$3.85. (yongchang.chin@wsj.com)

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