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OCBC Investment Research has lowered its target price on Singapore Technologies Engineering (STEG.SI) to $3.01 from $3.37, but maintained its buy rating.
ST Engineering, Singapore’s largest defence contractor and one of the world’s largest aircraft maintenance firms, is also involved in electronics, land systems and marine.
ST Engineering, Singapore’s largest defence contractor and one of the world’s largest aircraft maintenance firms, is also involved in electronics, land systems and marine.
OCBC said ST Engineering management had lowered its guidance for 2011 revenue and pre-tax profit to be comparable to 2010, versus higher revenue and pre-tax profit previously.
The company warned of uncertainties arising from the sovereign debt issue in Europe, the slowing American economy as well as the unrest in the Middle East and North Africa, OCBC noted.
The bank lowered its estimates for ST Engineering’s 2011 revenue and profit after tax and minority interests by 2.4% and 1.3%, respectively, to $6.05 billion and $503.2 million.
ST Engineering reported on Friday a 3% increase in its third-quarter net profit to $133.8 million from a year earlier, partly due to a writeback.
At 9:02 a.m., the stock was flat at $2.85.
Tell tales of the forming descending triangle.
credit suisse buying
ST eng employees selling
and
credit suisse selling
ST eng employees buying
Result
Constantly price regardless of market volatility
And the price is approaching 3/4 of the apex liao.
krisluke ( Date: 06-Nov-2011 20:49) Posted:
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Yes !!
TA shown ST eng is trading in a triangle.
See for ur self the " triangle" is quite obvious, u don't even have to draw it out... ...
when US and Europe is in recession, ST Engineering will visit new low soon.......we will see............
ST Engineering’s 3Q net profit up 3% to $133.8m
ST Engineering has reported a 3% increase in its third-quarter net profit from a year earlier, partly due to a writeback, and said it expects its full-year performance to be comparable to 2010, reported Reuters.
ST Engineering earned $133.8 million in the three months ended September, up from $130.2 million a year ago, partly due to the write-back of allowance for inventory obsolescence.
“The group continues to secure orders and grow its order backlog to $11 billion at the end of the quarter despite the challenging environment,” ST Engineering president and CEO Tan Pheng Hock said in a statement.
The company added that barring unforeseen circumstances, it expects to achieve revenue and profit before tax for 2011 fiscal year which are comparable to a year earlier.
ST Engineering’s US subsidiary, VT Miltope, today announced that it has teamed with General Dynamics C4 Systems on the Common Hardware Systems-4 (CHS-4) programme. General Dynamics C4 Systems was recently awarded the five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract with a potential value of US$3.7b if all options are exercised by the Army Contracting Command-Aberdeen Proving Ground (ACC-APG). VT Miltope has the potential to earn up to US$250m (about S$323.7m) over the life of this contract. (S$2.80, -%)
Window dressing week~
ST Engineering announced that ST Synthesis, its wholly owned subsidiary, has been awarded a five-year contract for one of the zones worth about S$125m by Singapore’s Defence Science & Technology Agency (DSTA) to provide facilities maintenance services to the Singapore Ministry of Defence (MINDEF) controlled properties and facilities. The
contract will start in October 2011. (S$2.84, -%)
same goes for a bull market, price spiral up and out of control. :)
A " koyak" market has no bottom... lol...
you dont think so?
PinkPunter ( Date: 04-Oct-2011 15:24) Posted:
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Used to hv at 1.50. Will it happen again. Scary urhhhh. 
edchai ( Date: 04-Oct-2011 20:28) Posted:
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wait until it breaks 2.60 , 2.30 then only you should talk about 2.14
pharoah88 ( Date: 04-Oct-2011 15:06) Posted:
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Bottom? hmmm....
KiLrOy ( Date: 03-Oct-2011 21:17) Posted:
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S$2.14
nIce chErry
potentially a double bottom at ard 2.70?
it has defy gravity for some time and it is time for it to fall now....
The effect of the bad news is over. But this counter have downside because of the weak market fundamental.
Overall, people still very worry about the stock market.
jamesng ( Date: 02-Oct-2011 13:41) Posted:
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st engg will fall more......so short it down...quite a few negative news recently