(SINGAPORE) Nov 6: OCBC is maintaining its “hold” call on ST Engineering with a $3.22 fair value given its 3Q results were slightly softer than expected.

In a Friday report, lead analyst Carey Wong says, “In view of the soft 3Q15 numbers as well as lower guidance, we are shaving 4% off both our FY15 revenue and earnings estimates.”

ST Engineering reported its 3Q15 results this morning, with revenue down 3% at $1.5 billion, mainly dragged down by Marine, but mitigated somewhat by Electronics.

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