ST Engineering - RHB Invest 2024-08-19: Growth Momentum To Continue; Keep BUY

• ST Engineering (SGX:S63) delivered a strong set of 1H24 results, aided by growth across all business segments. Keep BUY and S$5.00 target price, 10% upside from the current ST Engineering share price and 3.5% yield.
• - Read this at SGinvestors.io -
• We expect ST Engineering’s net debt position to improve while dividends remain steady.

Outlook remains strong.

• - Read this at SGinvestors.io -
• We maintain the right-sizing and cost optimisation exercises for the USS segment undertaken in 2023 should boost EBIT in the coming years.
• We expect growth in the DPS segment to sustain, as the group continues to deliver the orderbook.

Record high orderbook and potential for lower interest costs.

• 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:
2025-12-19 ST Engineering - Near-term Wins; Long-term Growth Intact.

Previous report by RHB:
2025-11-17 ST Engineering - Clearer Earnings, Stronger Visibility; Keep BUY.

Price targets by 2 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