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BRC Asia sees strong start to FY2022: analysts

Chloe Lim & Felicia Tan
Chloe Lim & Felicia Tan2/14/2022 02:27 PM GMT+08  • 5 min read
BRC Asia sees strong start to FY2022: analysts
The analysts remain bullish on the construction sector, of which BRC Asia is a part of.
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Analysts from CGS-CIMB Research and Phillip Securities Research have maintained their 'add' or 'buy’ ratings on steel supplier BRC Asia after the company exceeded expectations with its results for the 1QFY2022 ended December.

On Feb 10, BRC Asia reported a profit after tax of $13.3 million in its business update for the quarter.

On this, CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan have kept their target price unchanged at $2.10. Phillip Securities analyst Terence Chua has, too, kept his target price at $1.84.

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