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SembMarine kept at ‘neutral’ by RHB despite improving outlook

PC Lee
PC Lee2/23/2017 11:17 AM GMT+08  • 1 min read
SembMarine kept at ‘neutral’ by RHB despite improving outlook
SINGAPORE (Feb 23): RHB is maintaining its “neutral” call on Sembcorp Marine with a higher target price of $1.46 despite improving outlook on unattractive valuation even as it forecasts higher FY17 earnings.
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SINGAPORE (Feb 23): RHB is maintaining its “neutral” call on Sembcorp Marine with a higher target price of $1.46 despite improving outlook on unattractive valuation even as it forecasts higher FY17 earnings.

Currently, SembMarine’s orderbook stands at $4.7 billion, a healthy mix of drillships, floaters, jack-up rigs, offshore platforms and semi-submersibles.

While the current orderbook excludes $3.1 billion of Sete Brasil drillships, RHB says the resumption of the contract could be a catalyst for SembMarine.

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