0511 GMT - Pan-United Corp. looks well-placed to capture healthy construction demand thanks to its large exposure to Singapore's public infrastructure and residential sectors, CGS International's Kenneth Tan says in a research report. Large infrastructure projects for 2025 include Changi Airport Terminal 5 and Cross Island Line, the analyst notes. Also, built-to-order public housing projects under construction are poised to ramp up to 150 concurrent projects by end-2025, the analyst says. CGS International expects the concrete solutions and technologies specialist's 2025-2026 Ebitda margin to remain high at around 9%. The brokerage raises the stock's target price to S$0.75 from S$0.72 to reflect a valuation rollover, while keeping the add rating. Shares are unchanged at S$0.56. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 00:11 ET (05:11 GMT)
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