UOBKH has also upped its earnings forecasts for the FY2021-FY2023 by 9-11% due to stronger demand for construction activities.
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UOB Kay Hian analyst Lucas Teng has maintained his “buy” call on BRC Asia with a higher target price of $2 from $1.88 previously.
The higher target price comes as BRC Asia reported net profit of $9.6 million in the 1QFY2021, which came in Teng’s expectations at 25% of his full-year estimates.
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