Like-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Like
Comment
Favorite

rogerl
2023-03-28

Like

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

With the completion of the merger with Keppel Corp’s offshore and marine unit, Ho Pei Hwa of DBS Gro

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Like

Report

Comment

Top
Latest

empty

No comments yet

Most Discussed

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":9941315299,"tweetId":"9941315299","gmtCreate":1679977491611,"gmtModify":1679977495478,"author":{"id":3572005079747641,"idStr":"3572005079747641","authorId":3572005079747641,"authorIdStr":"3572005079747641","name":"rogerl","avatar":"https://static.tigerbbs.com/70a75678cb06207361b08aa8e42a9ecd","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":47,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Like&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Like&nbsp;</p></body></html>","text":"Like","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9941315299","repostId":1103501443,"repostType":4,"repost":{"id":"1103501443","kind":"news","pubTimestamp":1679973924,"share":"https://www.laohu8.com/m/news/1103501443?lang=&edition=full","pubTime":"2023-03-28 11:25","market":"sg","language":"en","title":"DBS, Citing How \"Tide Is Turning\", Resumes Coverage on Sembcorp Marine With \"Buy\" Call and 14 Cents Target Price","url":"https://stock-news.laohu8.com/highlight/detail?id=1103501443","media":"The Edge Singapore","summary":"With the completion of the merger with Keppel Corp’s offshore and marine unit, Ho Pei Hwa of DBS Gro","content":"<html><head></head><body><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, citing how the “tide is turning”.</p><p>In her March 28 report, Ho says that the combined entity is a “global champion with world-class yard facilities and offshore engineering capabilities” and is poised to become a “leading clean energy solutions provider” as well.</p><p>Citing the combined order book of more than $17 billion, Ho sees losses narrowing this current FY2023 and forming the base for the eventual turnaround in FY2024.</p><p>She warns of integration hiccups and costs could pose some downside risks this year, but they should be seen as one-offs.</p><p>“Looking beyond, we expect Sembcorp Marine to reap the synergies from the merger, on both the cost and revenue front,” says Ho.</p><p>Her target price of 14 cents is based on 1.2x FY23 book value, which is in line with global peers’ median valuation, and an upside of some 40% from current levels.</p><p>“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.</p><p>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.</p><p>Sembcorp Marine, as a 10.02 am, changed hand at 11 cents, up 0.95% for the day.</p></body></html>","source":"lsy1655096814160","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DBS, Citing How \"Tide Is Turning\", Resumes Coverage on Sembcorp Marine With \"Buy\" Call and 14 Cents Target Price</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDBS, Citing How \"Tide Is Turning\", Resumes Coverage on Sembcorp 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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.theedgesingapore.com/capital/brokers-calls/dbs-citing-how-tide-turning-resumes-coverage-sembcorp-marine-buy-call-and-14","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103501443","content_text":"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, citing how the “tide is turning”.In her March 28 report, Ho says that the combined entity is a “global champion with world-class yard facilities and offshore engineering capabilities” and is poised to become a “leading clean energy solutions provider” as well.Citing the combined order book of more than $17 billion, Ho sees losses narrowing this current FY2023 and forming the base for the eventual turnaround in FY2024.She warns of integration hiccups and costs could pose some downside risks this year, but they should be seen as one-offs.“Looking beyond, we expect Sembcorp Marine to reap the synergies from the merger, on both the cost and revenue front,” says Ho.Her target price of 14 cents is based on 1.2x FY23 book value, which is in line with global peers’ median valuation, and an upside of some 40% from current 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 day.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}