Friday, November 7, 2014

Sembcorp Industries cut to "neutral", target cut to $5.10 by OSK-DMG

Stock Name: Sembcorp Ind
Company Name: SEMBCORP INDUSTRIES LTD
Research House: OSK-DMGPrice Call: HOLDTarget Price: 5.10



SINGAPORE (Nov 7): OSK-DMG has downgraded Sembcorp Industries to "neutral" from "buy" and cut its price target to $5.10 from $6, citing concerns over the conglomerate's offshore and marine business.

SembMarine's profit margins in the next few quarters are likely to remain depressed as the rig builder books more low-margin revenue, according to OSK-DMG analysts Lee Yue Jer and Jesalyn Wong.

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