According to Guha, Sembcorp is poised to deliver more power. On Sept 17, Sembcorp announced that it would acquire ENGIE’s 30% stake in Senoko Energy, a licensed gas shipper and retailer. While pricing details are unavailable, the deal increases Sembcorp’s market share, allows them to gain access to piped gas imports and is complementary to their operations, Guha notes.
Maybank Securities analyst Krishna Guha maintains “buy” on Sembcorp Industries (SGX:U96
) . In a report released on Sept 18, Guha raised the FY2024 earnings estimates by 6% and target price by 9% to $6.
Sembcorp’s contracted gas sales should support earnings as energy prices stabilise in Singapore and Sembcorp remains a key beneficiary of the shift to clean energy in the medium term, Guha says.
