"With a significant market share across its key markets, the building materials segment faces a robust pipeline of mega infrastructure and HDB projects. The diesel engine segment also faces strong volume growth across new markets," the analysts state.
HLA's share price has gained by some three quarters in the past year but UOB Kay Hian believe the run has further legs on expectations that the manufacturing and building materials conglomerate will enjoy strong earnings growth this current FY2025 through FY2027.
In their March 24 note, analysts Llelleythan Tan Yi Rong and Heido Mo, believing that HLA's valuation is "attractive" at current levels, have significantly raised their target price for HLA from $1.11 to $1.46.
