According to Lee, customers with big projects are more inclined to choose BRC because of its ability to handle large scale projects, which places the group in a good position to benefit from the upcoming ramp up of HDB projects, and other major projects such as the Changi Airport Terminal 5 and the expansion of integrated resorts.
Anticipating “better times” ahead, DBS Group Research analyst Lee Eun Young has maintained her “buy” call for BRC Asia with a reduced target price of $1.89 from $2.22 previously.
In her report dated May 16, the analyst says BRC’s dominant market position in steel reinforcing solutions. “With a market share of 60% to 70%, BRC’s dominant market share implies that the group is well positioned to ride the growth of the industry,” says Lee.
