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DBS starts 'buy' on BRC Asia on the back of recovery of the construction sector

Felicia Tan
Felicia Tan6/8/2022 07:01 PM GMT+08  • 4 min read
DBS starts 'buy' on BRC Asia on the back of recovery of the construction sector
One of BRC Asia's buildings at Tuas Avenue. Photo: Albert Chua/The Edge Singapore
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DBS Group Research has initiated “buy” on BRC Asia Limited with a target price of $2.40.

The target price is based on a one year forward P/E of 8.2x, representing a discount of 15% to the company’s five-year historical mean, in view of the current global economic uncertainties, writes analyst Lee Eun Young in her June 8 report.

Lee’s recommendation comes on the back of the strong recovery of the construction sector, which is en-route to its pre-pandemic levels.

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