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BRC Asia 'sturdy as steel' despite risks to construction sector: UOBKH

Jovi Ho
Jovi Ho5/11/2021 2:38 PM GMT+08  • 3 min read
BRC Asia 'sturdy as steel' despite risks to construction sector: UOBKH
Recovery is still in progress, says UOB Kay Hian, as 2QFY2021 revenue improved to $279 million (+21% y-o-y, +31% q-o-q).
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Steel mesh manufacturer BRC Asia is “in line with expectations” for 2QFY2021 and is “as sturdy as steel”, says UOB Kay Hian Research analyst Lucas Teng in a May 11 note.

Teng is maintaining his “buy” call on BRC Asia with a target price of $2.00, which represents a 29.7% upside.

“[The] outlook for public sector construction projects continues to show a steadfast demand, though the risks of project delays remain,” writes Teng.

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