In a Tuesday report, analyst Ho Pei Hwa says she continues to see re-rating catalysts ahead for SMM for the following reasons:
SINGAPORE (May 2): DBS Vickers Securities is maintaining its “buy” call on Sembcorp Marine (SMM) with a target price of $1.78, on the notion that the sell-off post its 1Q17 results is “unwarranted”.
To recap, the marine and offshore engineering group last week posted 1Q earnings of $40 million, which was 28% lower on-year despite stabilising oil prices due to lower sales and additional cost incurred for a floater project.
