S&T Stock: Major Defense Contract Sparks 9% Surge

A significant market rally marked Wednesday's trading as the technology company announced a substantial defense sector contract valued at 165 million euros. The stock responded robustly to this development, climbing approximately nine percent to reach 19.56 euros. The contract, awarded by a prominent European defense and aerospace entity, involves the supply of advanced VPX computing and communication units for surveillance systems. This deal strengthens the company's strategic position in the defense sector, where it maintains exclusive partnerships with NATO member states. During the trading session, the stock achieved an intraday peak of 19.96 euros, with trading volume exceeding 237,000 shares, reflecting strong investor confidence.

Financial Performance

The company's latest quarterly results demonstrate remarkable growth, with revenue increasing by 42.56 percent to 427.74 million euros. Earnings per share improved from 0.30 to 0.39 euros, while analysts project a target price of 30.10 euros, suggesting significant upside potential. For the full year 2024, forecasts indicate earnings per share of 1.50 euros and a dividend of 0.668 euros, representing an increase from the previous year's 0.500 euros.