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'Intact recovery' for building sector, BRC Asia top pick: CGS-CIMB

Jovi Ho
Jovi Ho5/9/2022 2:53 PM GMT+08  • 4 min read
'Intact recovery' for building sector, BRC Asia top pick: CGS-CIMB
CGS-CIMB's top pick is BRC Asia for “its relatively attractive valuation and higher dividend yield”.
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The building and construction sector faces an intact recovery despite macro challenges, say CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan.

In a May 4 note, Ong and Tan are maintaining “overweight” on the sector. CGS-CIMB hosted BRC Asia, Pan-United Corporation and Vicplas International for a panel discussion last week. “They were cautiously optimistic on further construction sector recovery in FY2022.”

Ong and Tan are recommending “add” on highlighted companies BRC Asia, Pan-United Corp and Vicplas International with target prices of $2.10, 56 cents and 28 cents respectively.

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