CGS-CIMB “add” $2.51
Renewable projects ‘gathers wind’
CGS-CIMB Research’s Lim Siew Khee has kept her “add” call and target price of $2.51 on Sembcorp Industries (SCI). Lim’s target price of $2.51 is based on 15 times CY2022 P/E of Sembcorp Industries’ Asian peers’ average.
Lim’s move follows reports from industry sources that Green Wind Infra Energy, a subsidiary of Sembcorp Industries, bagged 180MW out of the 1,200MW that was up for tender by the Solar Energy Corporation of India (SECI).