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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