Singapore Technologies Engineering Ltd (SG1F60858221) Singapore Technologies Engineering (STE SP) - A More Solid BUY With Palatable Valuation

We believe STE’s recent share price weakness was triggered by the core profitability miss of its 1H22 results. With STE now trading at 19.5x FY24 PE (based on our more conservative FY24 EPS estimate at 15% below consensus’) which is 1.0 SD below historical mean, we think further downside risks o [...]