Broker: CGS International
Date of Report: May 19, 2026
Excerpt from CGS International report.
Report Summary
Stock Focus: Ever Glory United Holdings (EGUH SP)
Action: ADD (Buy)
Target Price: S\$0.90 (previous: S\$1.13)
Current Price: S\$0.85
Upside: 5.9%
Key Idea: EGUH has secured S\$230m in new contracts, raising its order book close to S\$1bn. Additional public sector contract wins in 2H26F are expected to be near-term catalysts. Major earnings contribution from these contracts is forecasted from FY27F onwards.
Highlights:
- Order book lifted to S\$950m after new contract wins.
- Reiterate ADD rating due to strong tender pipeline (over S\$4bn) and robust EPS CAGR (22% FY25-28F).
- Target price adjusted to S\$0.90 post 1-for-4 bonus share issue.
- Downside risks include cost escalation and project delays.
Ticker: EGUH SP
above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website : https://www.cgs-cimb.com/
