0143 GMT - BRC Asia's near- to medium outlook appears more positive, UOB Kay Hian analysts say in a research report as they raise the stock's target price to S$2.76 from S$2.52. For the medium-term, the steel mesh manufacturer expects a favorable outlook thanks to factors such as strong demand from upcoming infrastructure projects in Singapore, the analysts note. The Singapore-listed company's order book is robust, totaling S$1.5 billion as at end-1Q FY 2025, says the brokerage, which anticipates that BRC Asia will deliver half of its current order book in next 3-4 quarters as volumes recover. However, the brokerage maintains a hold rating on the stock as it looks fully valued at current levels. Shares are 1.0% lower at S$2.98. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 21:43 ET (01:43 GMT)
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