SINGAPORE (Mar 12): Maybank Kim Eng is upgrading ST Engineering to "buy" given growth catalysts are falling in place after three lacklustre years.
Maybank says the aerospace landscape is improving, recent acquisitions hold growth promise and the rationalisation at land systems and marine divisions is largely completed.
In a Monday report, lead analyst Neel Sinha says aerospace MRO (maintenance, repair & overhaul) is seeing green shoots from the recovery in global trade, some capacity rationalisation and growth in the global aircraft fleet.
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