SINGAPORE (Mar 17): Shares in ST Engineering might have fallen nearly 24% from its recent peak of $4.42 in late February, but RHB Group Research continues to see the counter as a strong long-term defensive pick.

For one, analyst Shekhar Jaiswal notes that the stock has outperformed the benchmark Straits Times Index by 3.6% so far this year.

Even then, Jaiswal believes that the market seems to be pricing in more than the research house’s worst case scenario.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook