ST Engineering's Record Order Book Boosts Earnings Outlook -- Market Talk
ST Engineering's Record Order Book Boosts Earnings Outlook -- Market Talk
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)
0406GMT-RHB Research稱,新加坡科技工程創紀錄的182億坡元訂單,受助於第三季度18.2億坡元的新訂單,正在提振其未來12個月的獲利預估。其商業航空業務的連續改善是近期的催化劑,該經紀商指出,第三季度該行業的新訂單價值10.3億新元,而第二季度的新訂單分別為8.72億新元和5.72億新元。報告稱,全球疫苗接種率的上升是另一個順風,商業活動的改善也可能支撐收益。RHB對該股維持買入評級和4.85新元目標價,該股上漲0.3%至3.85新元。(yongchang.chin@wsj.com)
譯文內容由第三人軟體翻譯。