In his March 2 report on Sembcorp Industries, Paul Chew, who leads the research team, has an "accumulate" call and $7 target price on this counter.
The PhillipCapital research team has replaced Singapore Telecommunications with Sembcorp Industries in its latest quarterly "Absolute 10" portfolio, on the premise that the latter's pending $4.8 billion acquisition of Alinta Energy will drive earnings growth ahead.
"Gas trading operations will benefit from the rise in LNG prices. Potential listing of India’s renewable energy portfolio is another positive catalyst," says PhillipCapital.
