12 May '11, 5am

RPT-Singapore Stocks-Down at midday on commodities, near support

SINGAPORE , May 12 (Reuters) - OCBC Investment Research has lowered its target price on Singapore Technologies Engineering , the world's largest aircraft maintenance firm, to S$3.57 from S$3.71 but maintained its buy rating. STATEMENT: OCBC cut its target price on ST Engineering to account for a potential margin squeeze in 2011. ST Engineering said on Wednesday its first quarter net profit rose 20 percent from a year ago to S$111.1 million ($89.9 million), but slightly below OCBC's expectations due to a margin squeeze on the firm's product mix. [ID:nL3E7GB1XJ] Most divisions, except aerospace, registered lower profit margins compared to the year-ago quarter, although overall profit before tax margins were comparable, OCBC said. ST Engineering has an order book of S$11.3 billion with a further S$3 billion expected over the next nine months, OCBC said, adding that the manage...

Full article: http://sg.news.yahoo.com/singapore-hot-stocks-noble-group...

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