Sembcorp Marine (S51.SG) +0.6% at $4.91, likely to end firmer for third straight day, but still yet to recoup last Friday’s 3.8% loss triggered by prospect of company being priced out of Petrobras’ 28-rig tender exercise.

Tender results, revealed Friday, show rig-builder’s bids among highest. Stock’s rebound this week accompanied by declining volume, indicating lack of buying conviction.

Nomura, which has Buy call with $6.03 target, remains hopeful of SembMarine’s chances; “SembMarine’s intent to build a new greenfield yard on Brazil’s move to spur its rig-building industry makes it too early to rule (it out of the race).”

Immediate resistance at Friday’s $5.04 intraday high.