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.