Wednesday, February 18, 2015

Sembcorp Industries raised to "buy" but target cut to $4.84 by OCBC

Stock Name: Sembcorp Ind
Company Name: SEMBCORP INDUSTRIES LTD
Research House: OCBCPrice Call: BUYTarget Price: 4.84



SINGAPORE (Feb 18): OCBC Investment Research has upgraded Sembcorp Industries to "buy" from "hold" on valuation grounds, but cut its price target to $4.84 from $5 to factor in a lower valuation for Sembcorp Marine, the group's offshore and marine arm.

Sembcorp's 2014 earnings of $801 million were within expectations and while its Singapore utilities business is expected to remain under pressure this year, "the picture looks brighter overseas," OCBC analyst Low Pei Han said in a note today.

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