In his report, Loh says that the rig market, particularly the semi-submersibles segment, has strengthened in 2022 with higher utilisation and day rates.
UOB Kay Hian’s Adrian Loh has maintained his “overweight” recommendation for the offshore sector, giving “buy” ratings to his top three picks, namely, Keppel Corp, Sembcorp Marine and Yangzijiang.
Target prices for the three companies stand at $10.11, 15.6 cents and $1.16 for Keppel, Sembmarine and Yangzijiang respectively.
