Sembcorp Industries raised to "hold", target lifted to $4.16 by Maybank

Stock Name: Sembcorp Ind
Company Name: SEMBCORP INDUSTRIES LTD

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 4.16

SINGAPORE (Feb 18): Maybank Kim Eng has upgraded Sembcorp Industries to "hold" from "sell", noting the stock's 9% decline since it cut its rating to "sell" in November.

It also raised its price target to $4.16 from $4 after revising Sembcorp's market values and net debt figures.

While the company's Singapore business will remain challenging in 2015, its overseas operations "offer more stability and growth", according to Maybank Kim Eng analyst Yeak Chee Keong.