0721 GMT - Singapore Technologies Engineering could have a net profit CAGR of 8% to 2023, and a likely profit CAGR of 6.6% from 2023-2026, if the company sustains its current net margin of 7.3%, RHB Research says. The broker's bullish forecast stems from the recovery in international air travel and the company's contract wins in its "defensive" business units in the commercial-aerospace, smart-city and defense sectors. RHB reiterates its positive view on the stock, and retains a buy rating and S$4.85 target price. ST Engineering is 1.3% lower at S$3.87. (yongchang.chin@wsj.com)
Recovery in Air Travel Bodes Well for ST Engineering -- Market Talk
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