0810 GMT - Centurion Corp.'s future earnings growth looks promising, after its results for first nine months of 2024 beat expectations, Phillip Securities Research's Yik Ban Chong says in commentary. The brokerage lifts its 2024 revenue forecast for the accommodation provider by 3% as strong occupancy and rental increases across all segments are likely to persist. The Singapore-listed company's rental rates are expected to rise by an average of around 15% in 2024, the analyst says. Centurion's interest coverage ratio also rose by 32% in first nine months of 2024, signaling increased profits, the analyst adds. The brokerage raises the stock's target price to S$1.02 from S$0.90 with an unchanged accumulate rating. Shares are 2.7% lower at S$0.89. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 14, 2024 03:10 ET (08:10 GMT)
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