OCBC Initiates 'Buy' Rating on EGP Energy Corporation

OCBC initiated coverage on EGP Energy Corporation with a "buy" rating and a fair value estimate of S$1.05, which implies a 43 per cent upside from the stock’s last closing price of S$0.73. The research noted that EGP Energy Corporation is a leading independent power transmission and distribution engineering, procurement, and construction specialist in Singapore.

The rating is supported by EGP Energy Corporation’s market leadership, which includes a 37.5 per cent share of the extra high voltage and high voltage switchgear market. The company maintains a robust order book of S$296.2 million, with 65 per cent of those contracts projected to be recognized between the second half of 2026 and 2028.