On Aug 2, the company reported earnings of $20.4 million for 3QFY2022 ended June, more than double the year-earlier period, thanks to a recovery in the construction sector but somewhat offset by a moderation of prices.
PhillipCapital analyst Terence Chua has kept his “buy” call and $2.26 target price on BRC Asia, following the steel supplier’s 9MFY2022 earnings for the period ended June that met his expectations.
Chua’s target price is pegged to 8x FY2022 earnings estimates.
