Home THE DAILY EDGE Business UOB ups ST Engineering target to $3.20
UOB ups ST Engineering target to $3.20
Written by Reuters   
Wednesday, 10 November 2010 11:39
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UOB Kay Hian has raised its target price for defence contractor Singapore Technologies Engineering (STEG.SI) to $3.20 from $2.98 and kept its "hold" rating.

STATEMENT:
UOB has raised its 2010 net profit estimate for ST Engineering by 5.4% after the firm reported its third quarter net profit rose eight%.
 
ST Engineering reported its net profit for the July-September period was $130.2 million, up from $120.3 million a year ago, helped by higher earnings from its electronics and marine units.
 
UOB noted that ST Engineering is likely to see minimal impact from the weaker U.S. dollar as it is negotiating with customers to price contracts in Singapore dollars. 
 
ST Engineering shares fell 0.58% to $3.45 at 0328 GMT but have gained 6.2% so far this year.
 
 

 

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UOB ups ST Engineering target to $3.20
Wednesday, 10 November 2010

Last Updated on Wednesday, 10 November 2010 11:40