Maybank Securities analysts Eric Ong and Jarick Seet have initiated coverage on worker and student dormitory operator Centurion Corporation at a target price (TP) of $1.45.
They note that despite the share price’s outperformance, the current valuation of the stock’s around 10 times forward price-to-earnings ratio (P/E) is “not too excessive”, thanks to recurring earnings visibility from robust construction-driven demand in Singapore and a clear pipeline of capacity expansion.
Ong and Seet write in their Mar 28 report: “In 2Q2025, about 9,000 dormitory beds will be taken out of local supply as the lease to operate one of the larger dorms by its competitor will not be renewed.”
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