Tuesday, February 24, 2015

Sembcorp Industries raised to "buy", target cut to $4.90 by OSK DMG

Stock Name: Sembcorp Ind
Company Name: SEMBCORP INDUSTRIES LTD
Research House: OSK-DMGPrice Call: BUYTarget Price: 4.90



SINGAPORE (Feb 24): OSK DMG has upgraded Sembcorp Industries to "buy" from "neutral" on valuation grounds, noting that the stock now trades at "an attractive" multiple of nine times projected 2015 earnings.

While the group's utilities business in Singapore remains under pressure because of competition, "we see strong potential in its pipeline of infrastructure assets coming online in FY15-16," OSK DMG analysts Lee Yue Jer and Jesalyn Wong wrote in a note.

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