ST Engineering - RHB Invest 2023-06-12: Outperformance In An Uncertain Environment

• ST Engineering's share price has seen a 9% rise in year-to-date and has outperformed the STI by 11% during the same period.
• In current situation of an uncertain macroeconomic environment, we believe ST Engineering can deliver double-digit profit CAGR during 2023-2025, aided by revenue growth and margin improvement. Its ability to sustain a S$0.16 dividend payout despite the recent rise in debt should provide downside protection to ST Engineering's share price.
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Strong long term growth is well supported by organic and inorganic factors.

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• the urban solutions & satcom (USS) segment experiencing strong growth amid contributions from the TransCore acquisition beyond 2023; and
• the defence public security (DPS) segment benefiting from rising defence spending in Singapore and the US.
• For 2023,
  • Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-02-18 ST Engineering - Order Wins To Support Growth Beyond 2024.

Previous report by RHB:
2025-01-21 ST Engineering - Remaining Positive For 2025; Reiterate BUY.

Price targets by 6 other brokers at ST Engineering Target Prices.

Listing of research reports at ST Engineering Analyst Reports.

Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News