Adding STE to Our Best Ideas List, Things Are Looking Up Despite Global Gloom
We add narrow-moat ST Engineering to our Best Ideas list because we expect this stock will outperform during this period of global growth uncertainty. STE has a defensive income stream, with its core aerospace and electronics segments shielded from most macro headwinds, while defense orders make up about one third of revenue. We think this is an attractive entry level for STE because, although it has already been outperforming the FTSE Straits Times Index, rising 8.1% year to date versus a decli...Singapore Technologies Engineering is an investment holding company. Co. and its subsidiaries have four business sectors: Aerospace, which provides a range of aircraft maintenance, engineering and training services for both military and commercial aircraft operators; Electronics, which engages in the design, development and integration of electronics and communications systems; Land Systems, which delivers integrated land systems, specialty vehicles and their related through-life support; and Marine, which provides customised shipbuilding, repair and conversion services to both naval and commercial vessels, at Co.'s yards in Singapore and the U.S.
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