0309 GMT - BRC Asia may benefit from robust growth in Singapore's construction sector, UOB Kay Hian analysts say in a research report as the brokerage raises the stock's target price to S$3.29 from S$2.76. The Building and Construction Authority has projected total construction demand in 2025 would be between S$47 billon and S$53 billion, up sharply from S$44.2 billion in 2024, the analysts note. The Singapore-listed steel-mesh manufacturer is strategically poised to capitalize on the surge in public-sector construction, as it can leverage its expertise in infrastructure components such as steel reinforcement, the analysts say. The brokerage maintains its hold rating as it reckons the stock is fairly valued at current price levels. Shares are unchanged at S$3.14.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 27, 2025 23:09 ET (03:09 GMT)
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