DBS, Citing How "Tide Is Turning", Resumes Coverage on Sembcorp Marine With "Buy" Call and 14 Cents Target Price

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DBS, Citing How "Tide Is Turning", Resumes Coverage on Sembcorp Marine With "Buy" Call and 14 Cents Target Price

The Edge Singapore2023-03-28

With the completion of the merger with Keppel Corp’s offshore and marine unit, Ho Pei Hwa of DBS Group Research has resumed coverage on Sembcorp Marine with a “buy” call and 14 cents price target, ...

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rogerl
·2023-03-28
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TeslaLegend
·2023-03-28
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Marine With \"Buy\" Call and 14 Cents Target Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-28 11:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/capital/brokers-calls/dbs-citing-how-tide-turning-resumes-coverage-sembcorp-marine-buy-call-and-14><strong>The Edge Singapore</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With the completion of the merger with Keppel Corp’s offshore and marine unit, Ho Pei Hwa of DBS Group Research has resumed coverage on Sembcorp Marine with a “buy” call and 14 cents price target, ...</p>\n\n<a href=\"https://www.theedgesingapore.com/capital/brokers-calls/dbs-citing-how-tide-turning-resumes-coverage-sembcorp-marine-buy-call-and-14\">Source 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levels.“We believe 40% of the rerating potential could come from the earnings turnaround and 60% from an uplift in the valuation multiple from 1.0x PB towards 1.2x PB, on the back of the robust momentum in order wins,” adds Ho.That aside, key risks include the recent news that Brazilian authorities have initiated probes into a multi-year-long case of “irregularities” involving the company’s local unit, as well as an unexpected plunge in oil prices.Sembcorp Marine, as a 10.02 am, changed hand at 11 cents, up 0.95% for the 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