0330 GMT - CSE Global will likely benefit from the US$29.25 million proposed sale of U.S. industrial property, Maybank Research's Jarick Seet says in a report. He expects the Singapore-listed company to recognize a US$8.6 million gain after tax. The technology solutions provider plans to use the sale proceeds to purchase a larger property in the U.S. That probably stems from significant growth opportunities available for the electrification of U.S. data and utilities centers, the analyst adds. The brokerage lifts its profit after tax and minority interest forecasts for CSE Global by 30% for 2024 and 5% for 2025. It raises the stock's target price to S$0.64 from S$0.60, with an unchanged buy rating. Shares are last at S$0.43. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 05, 2025 22:30 ET (03:30 GMT)
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