"We understand that Ever Glory could have a part to play in mega infrastructure projects such as Changi Terminal 5 superstructure M&E works, for which we believe the contract value could be over $500 million," state the analysts in their April 23 note, where they've raised their FY2027 order win projection from $400 million to $650 million.
Then Wan Lin and Lim Siew Khee of CGS International have become more bullish on Ever Glory United Holdings, on the premise that the leading mechanical and engineering contractor is set to win more orders from major infrastructure projects by early next year.
From a previous target price of 90 cents, the analysts, who have an "add" call, now figure this counter is worth $1.13.
