RHB Group Research analyst Shekhar Jaiswal has maintained his ‘buy’ call for ST Engineering with an unchanged target price of $4.25 following the company’s proposal to acquire Cubic Corp.

Jaiswal views the proposal positively, saying in a March 24 research note that it should enhance ST Engineering’s offerings in smart mobility solutions and offer higher earnings for its urban solutions and satellite communications segments.

SEE:ST Engineering launches largest ever M&A bid of US$2.4 bil for Cubic Corp

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