The dormitory operator's core FY2024 earnings for the year ended Dec 31 2024 was 107% of what Chan was expecting. Thanks to higher rental and occupancy rates, revenue of $253.6 million was also 106% of what he had projected.
Chan En Jie of Lim & Tan has upgraded his call on Centurion Corp from "accumulate on weakness" to "accumulate" following its FY2024 results that came in "slightly" above his expectations.
With prospects of earnings growth, plus potential catalysts from asset monetisation, Chan has raised his target price for the stock from 83 cents to $1.20.
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