Analyst Lim Siew Khee of CGS-CIMB reiterated a Buy rating on CSE Global (CSYJF – Research Report), with a price target of S$0.68.
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Lim Siew Khee’s rating is based on several factors that highlight CSE Global’s potential for growth and stability. The company is expected to experience stronger contract momentum in the latter half of 2025, driven by government projects and sectors like oil and gas, data centers, and infrastructure. Despite a decline in order wins in the first quarter of 2025 due to trade tariff uncertainties, the company remains optimistic about future prospects.
Additionally, CSE Global’s decision to fix its dividend payout at 50% of net profit reflects management’s confidence in the company’s earnings resilience and cash flow stability. The company’s diversified revenue streams and healthy order book further support its long-term fundamentals. However, potential risks such as cost overruns and a slowdown in order wins are noted, but the overall outlook remains positive, justifying the Buy rating.