SembMarine (S51.SG) +2.7% at $4.87 as rig builder’s above-view 3Q10 results fuel hopes performance in coming quarters will be just as robust. “While still early days, we believe we may slowly see the return of some orders from U.S. drillers,” says JPMorgan, which has Overweight call with $5.30 target. 

Daiwa, which has Outperform call with S$5.75 target, tips 2 major non-Petrobras contracts in 4Q10. 3Q10 earnings more than doubled to $296.0 million from $144.6 million year earlier on higher margins, $53 million write-back of payout to Societe Generale over disputed FX transactions. 

 

Excluding write-back, net profit +68% at $243.0 million vs $180.0 million tipped in Dow Jones poll. Orderbook quotes suggest minimal upside beyond morning high of $4.90.