CGS-CIMB Sticks to Their Buy Rating for Sembcorp Industries (SCRPF)

Mar. 19, 2023, 01:15 PM

CGS-CIMB analyst Lim Siew Khee maintained a Buy rating on Sembcorp Industries (SCRPFResearch Report) on March 14 and set a price target of S$5.12. The company’s shares closed last Tuesday at $2.12.

According to TipRanks, Siew Khee is an analyst with an average return of -7.8% and a 28.57% success rate.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sembcorp Industries with a $3.39 average price target, a 59.91% upside from current levels. In a report released on March 14, UOB Kay Hian also maintained a Buy rating on the stock with a S$4.64 price target.

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Based on Sembcorp Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0

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Sembcorp Industries Ltd. is an investment holding company, which engages in the production and supply of utilities services, terminalling and storage of petroleum products and chemicals. It operates through the following four segments: Utilities, Marine, Urban Development, and Others/Corporate. The Utilities segment involves in providing energy to industrial and municipal customers. The Marine segment provides integrated solutions for the offshore and marine industry, which include rigs and floaters; repairs and upgrades; offshore platforms; and specialized shipbuilding. The Urban Development segment owns, develops, markets and manages industrial parks as well as business, commercial, and residential space in Asia. The Others/Corporate segment comprises businesses mainly relating to minting, design and construction activities, offshore engineering, and others. The company was founded on May 20, 1998 and is headquartered in Singapore.

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