Hong Leong Asia rises 4.6% after UOBKH lifts target price on H1 earnings, data-centre exposure
[SINGAPORE] Hong Leong Asia shares rose on Thursday (Sep 18) after UOB Kay Hian (UOBKH) lifted its target price for the counter earlier this week.
As at 1.09 pm, the stock rose to S$2.50. This was 4.6 per cent or S$0.11 above Wednesday’s closing price of S$2.39, with around 2.5 million shares changing hands.
By 1.22 pm, it eased to S$2.49, still up by 4.2 per cent or S$0.10, with some 2.6 million shares changing hands.
This comes as UOBKH raised its target price for Hong Leong Asia to S$2.82 from S$2.63 in a Monday report, while maintaining its “buy” call on the counter.
The report noted that Hong Leong Asia’s data centre exposure could be an “engine for growth” and that its first-half FY2025 earnings beat peers’.
On Aug 12, the group posted a 13.1 per cent rise in net profit to S$56 million for H1 ended Jun 30, 2025, from S$49.5 million in the year-ago period.
