Singapore Technologies Engineering's earnings improvement path still seems upbeat to RHB Research, analyst Shekhar Jaiswal says in a research report. RHB reiterates the stock's buy rating. Its Commercial Aerospace segment will probably be underpinned by continued strong demand for aviation-related maintenance, repair and overhaul work, the analyst says. Also, sustained delivery of defense contracts should support growth for the company's Defence & Public Security segment. RHB stays positive on the company being able to post margin improvement for its Urban Solutions & Satcom segment, but is now slightly more cautious over the rate of this improvement in 2025. RHB trims its target price to S$5.20 from S$5.32. Shares are 0.45% higher at S$4.48. (ronnie.harui@wsj.com)
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