- Tiong Woon is well-positioned to benefit from the construction and oil & gas upcycles. Its outlook has turned positive on the back of a strong project pipeline. FY23 earnings grew 38% y-o-y and dividend doubled to 1.0 cents.
- - Read this at SGinvestors.io -
- Maintain BUY rating on Tiong Woon with target price of S$0.85, pegged to 0.7x FY24F P/B (+1 standard deviation above the P/B mean).
Well-positioned to benefit from construction and oil & gas industries upcycles.
- With comprehensive ownership of more than 500 cranes, some of which can have a capacity of up to 2,200 tonnes, Tiong Woon Corporation (SGX:BQM) is in a good position to benefit from the strong resumption of activities in Singapore’s construction sector and rising capex in the oil & gas industry.
- - Read this at SGinvestors.io -
- Construction of more new petrochemical plants could also increase demand for cranes.
Positive outlook driven by strong project pipeline.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-11-01
Read also UOB's most recent report:
2024-09-24 Tiong Woon - FY24 Miss Expectations, But A Brighter FY25 Is In The Cards.
Price targets by other brokers at Tiong Woon Target Prices.
Listing of research reports at Tiong Woon Analyst Reports.
Relevant links:
Tiong Woon Share Price History,
Tiong Woon Announcements,
Tiong Woon Dividend Payout Dates & Corporate Actions,
Tiong Woon News
