Yik Ban Chong of PhillipCapital has initiated coverage of Soilbuild Construction Group with an "accumulate" call and 97 cents target price.

In his April 14 note, Chong notes that the company's order book of $1.26 billion as at Dec 2024, will provide visibility for revenue and profit growth over the next two financial years.

For this current FY2025, Chong estimates that Soilbuild can grow its revenue and earnings by 20% and 28% y-o-y, thanks to progress payments.