SINGAPORE (May 16): DBS Vickers Securities is maintaining its “buy” call on ST Engineering with a $3.55 target price as its investment thesis for the stock remains intact.

In a Monday report, analyst Suvro Sarkar says ST Engineering remains a defensive stock with a healthy balance sheet, strong orderbook and secure dividend payouts in a volatile equity market.

Sarkar says its Aerospace segment has positioned itself well by investing in growth markets including narrow-body aircraft Passenger-to-Freighter (PTF) conversions, the Chinese MRO market, and cabin interior solutions.

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