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Tide turning for these stocks as offshore & marine sector picks up

Michelle Zhu
Michelle Zhu3/1/2017 04:35 PM GMT+08  • 2 min read
Tide turning for these stocks as offshore & marine sector picks up
SINGAPORE (March 1): Credit Suisse is turning positive on Singapore’s offshore and marine (O&M) sector on expectations of a rerating from close-to-trough valuations.
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SINGAPORE (March 1): Credit Suisse is turning positive on Singapore’s offshore and marine (O&M) sector on expectations of a rerating from close-to-trough valuations.

This comes as oil prices have been stabilising above US$50/bbl with the research house’s proprietary tracker pointing to an inflection in the bidding pipeline for contracts in Feb this year.

With that, Credit Suisse's research team is upgrading its ratings on Keppel Corp and Sembcorp Marine to “outperform” with the respective target prices of $8.70 and $2.40.

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