Yik Ban Chong, an analyst from Phillip Securities, maintained the Buy rating on BRC Asia Limited (BRGA – Research Report). The associated price target is S$3.40.
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Yik Ban Chong has given his Buy rating due to a combination of factors that highlight BRC Asia Limited’s potential for growth. The company has shown resilience despite the challenges posed by falling steel prices, primarily driven by weakness in China’s property sector. However, BRC Asia’s ability to expand its delivery tonnage, which increased by approximately 19% year-over-year in the second quarter of 2025, is expected to counterbalance the impact of lower steel prices.
Furthermore, BRC Asia’s order book remains robust at record levels, supported by significant construction projects in Singapore, which bodes well for future revenue. The company’s strategic acquisition of a 55% stake in Southern Steel Mesh aims to diversify its revenue streams beyond Singapore. Additionally, BRC Asia offers an attractive dividend yield, which enhances its appeal to investors. These factors collectively contribute to Yik Ban Chong’s positive outlook and Buy rating for the stock.
According to TipRanks, Ban Chong is a 3-star analyst with an average return of 9.5% and a 66.67% success rate.
In another report released on May 26, CGS-CIMB also reiterated a Buy rating on the stock with a S$3.40 price target.
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