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Is the tide turning for Sembcorp Marine?

PC Lee
PC Lee12/14/2016 01:26 PM GMT+08  • 2 min read
Is the tide turning for Sembcorp Marine?
SINGAPORE (Dec 14): OCBC is upgrading Sembcorp Marine to “hold” with a revised fair value of $1.43 with its share price correction and the recovery in oil prices.
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SINGAPORE (Dec 14): OCBC is upgrading Sembcorp Marine to “hold” with a revised fair value of $1.43 with its share price correction and the recovery in oil prices.

In a Wednesday report, lead analyst Low Pei Han says SembMarine’s share price has corrected by about 40% since the research house downgraded the stock in Oct 2015, compared to a 3% drop in the STI’s share price.

At the current price level, the stock is trading at about 1.2x book, which is not considered low compared to other oil and gas related counters, but low compared to SembMarine’s historical stock performance, says analyst Low Pei Han in a Wednesday report.

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