0404 GMT - BRC Asia is likely to benefit from rising steel demand as construction activity in Singapore grows, says its new bull at UOB Kay Hian. The Singapore-based steel supplier has a record S$2 billion order book, which provides strong multi-year earnings visibility, analyst Heidi Mo says in a note. Steel demand in the city state is likely supported by both public and private-sector projects, which should be a tailwind to BRC Asia's earnings going into FY 2026. UOB Kay Hian upgrades its rating to buy from hold, citing a FY 2026 dividend yield of 5.3%, and raises its target to S$4.69 from S$3.29. Shares fall 1.35% to S$4.40. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
September 09, 2025 00:04 ET (04:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.