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PhillipCapital ups Pan-United's TP to 46 earnings as FY2021 results perform above expectations

Felicia Tan
Felicia Tan3/17/2022 12:33 AM GMT+08  • 3 min read
PhillipCapital ups Pan-United's TP to 46 earnings as FY2021 results perform above expectations
“Stock catalysts are expected from higher contract volumes and better margins,” says PhillipCapital's Terence Chua.
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PhillipCapital analyst Terence Chua has kept his “buy” recommendation on Pan-United Corporation as the company’s earnings for the FY2021 ended December stood above expectations.

On the back of the higher earnings, Chua has also upped his earnings estimates for the FY2022 by 11%.

“[This is] on account of the higher demand for ready-mixed concrete brought about by the construction recovery,” Chua writes in his March 14 report.

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