0505 GMT - Lum Chang Creations' contract win supports earnings growth, RHB Research's Alfie Yeo says in a report. The company recently said it secured a contract of around 33 million Singapore dollars for architectural and associated works at Teck Ghee Station, which is along the Cross Island Line of Singapore's mass rapid transit system, the analyst notes. Also, the urban revitalization specialist is now listed on the Singapore Exchange Mainboard, and has increased its shareholder base and enhanced liquidity via placement and bonus issue. RHB Research raises the stock's target price to S$0.59 from S$0.57 to reflect P/E base roll-over, with an unchanged buy rating. Shares are 1.4% higher at S$0.37.
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