Following better-than-expected FY2023 ended Sept 30 earnings, CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan have maintained their “add” call on BRC Asia (SGX:BEC
) and raised their target price to $2.30 from $2.20. The steel supplier plans to pay a special dividend of 5.5 cents on top of a final dividend of 5.5 cents, bringing the FY2023 total to 16 cents, or a yield of 10%.
BRC Asia
Price targets:
CGS-CIMB Research ‘add’ $2.30
DBS Group Research ‘buy’ $1.89
Construction activities ramping up
