Stock Name: Sembcorp Marine
Company Name: SEMBCORP MARINE LTD
Company Name: SEMBCORP MARINE LTD
| Research House: OSK-DMG | Price Call: HOLD | Target Price: 3.10 |
SINGAPORE(Feb 17): OSK DMG has maintained its neutral call on global marine and offshoring group Sembcorp Marine with a lower target price of $3.10 (from $3.80) based on its sum of parts (SOP), with the change largely driven by rising debts.
"The swing to a net debt position of 21.2% was a negative surprise, with the company having spend $1.4 billion on two new yards in the last two years," said OSK DMG analysts Lee Yue Jer and Jesalyn Wong in a note today.
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