Home Capital Broker's Calls

PhillipCapital keeps BRC Asia at 'buy' on recovery of construction demand

The Edge Singapore
The Edge Singapore8/9/2022 08:48 PM GMT+08  • 2 min read
PhillipCapital keeps BRC Asia at 'buy' on recovery of construction demand
Photo: Albert Chua
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

PhillipCapital analyst Terence Chua has kept his “buy” call and $2.26 target price on BRC Asia, following the steel supplier’s 9MFY2022 earnings for the period ended June that met his expectations.

Chua’s target price is pegged to 8x FY2022 earnings estimates.

On Aug 2, the company reported earnings of $20.4 million for 3QFY2022 ended June, more than double the year-earlier period, thanks to a recovery in the construction sector but somewhat offset by a moderation of prices.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.