In his May 15 note, Tng, who has an "add" call on the counter, figures that Centurion Corp is now worth $1.46, up from his previous target price of $1.
For its 1QFY2025, Centurion reported overall revenue of $69 million, up 13% y-o-y, led by its so-called purpose-built workers' accomodation business segment.
Citing "favourable" industry dynamics, William Tng of CGS International continues to favour Centurion Corp.
With the dormitory operator potentially spinning off a REIT listing in the second half of the year, Tng has also upgraded his target price for this counter after he applied a narrower discount to RNAV valuation.
