by winston » Thu Jul 12, 2012 1:25 pm
not vested
NEWS SINGAPORE-UOB ups ST Engineering target price
UOB Kay Hian raised its target price for Singapore Technologies Engineering to S$3.78 from S$3.34 and kept its 'buy' rating, citing continued order wins.
By 0425 GMT, ST Engineering shares were 1.8 percent lower at S$3.21 and have gained 19.3 percent since the start of the year, compared to the Straits Times Index's <.FTSTI> 12.5 percent rise.
In the second quarter, ST Engineering secured S$1.5 billion worth of new contracts, 100 percent higher than the previous quarter, suggesting its order book in April-June will likely surpass S$12.3 billion, which was achieved at end-2011.
Despite this, ST Engineering is trading at 0.81 times its orderbook, a discount to its 5-year average of 0.88 times, said UOB.
Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"