Centurion Set to Benefit From Demand-Led Growth for Its Accommodation Assets -- Market Talk

Dow Jones03-08

0234 GMT - Centurion, a provider of worker and student accommodation, stands to benefit from demand-led growth for its accommodation assets, UOB Kay Hian analyst Adrian Loh says in a research report. The brokerage raises its target price for the stock to S$0.57 from S$0.50 with an unchanged buy rating. Centurion continues to see robust demand for its purpose-built workers' accommodation assets in Singapore and Malaysia, as inflows of foreign and migrant workers are at high levels, the analyst says. Centurion's purpose-built student accommodation assets are in the U.K. and Australia, which are strong magnets for international students, the analyst adds. The brokerage lifts its 2024 and 2025 earnings estimates for Centurion by 10% and 12%, respectively. Shares are unchanged at S$0.415.(ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 07, 2024 21:34 ET (02:34 GMT)

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