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Sembcorp kept at 'add' as it awaits turnaround in India

Samantha Chiew
Samantha Chiew5/4/2018 03:37 PM GMT+08  • 2 min read
Sembcorp kept at 'add' as it awaits turnaround in India
SINGAPORE (May 4): CGS-CIMB Research is keeping its “add” rating on Sembcorp Industries with a lower target price of $3.49.
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SINGAPORE (May 4): CGS-CIMB Research is keeping its “add” rating on Sembcorp Industries with a lower target price of $3.49.

This came on the back of the group announcing that its 1Q18 earnings have fallen by 34% to $76.6 million, mainly due to the absence of a one-off gain, which was recorded n 1Q17.

Revenue for the quarter was 30% higher at $2.76 billion, compared to $2.12 billion last year.

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