Home Capital Broker's Calls

UOB Kay Hian lifts Sembcorp Industries' TP to $3.59, as it deems the counter a 'key blue-chip holding'

Felicia Tan
Felicia Tan4/18/2022 5:27 PM GMT+08  • 4 min read
UOB Kay Hian lifts Sembcorp Industries' TP to $3.59, as it deems the counter a 'key blue-chip holding'
UOB Kay Hian has also upped its earnings estimates by 6% to 11% for FY2022 to FY2024. Photo: Sembcorp Industries
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

UOB Kay Hian analyst Adrian Loh is keeping his “buy” call on Sembcorp Industries (Sembcorp) as it has been actively making deals focused on expanding its renewables footprint.

In his report dated April 18, Loh is very much positive on Sembcorp, calling the counter a “key blue-chip holding in any Singapore portfolio” and raising its target price to $3.59 from $2.95 previously.

The new target price is based on a target P/E of 13.6x and is 1 standard deviation above Sembcorp’s past five-year average P/E of 11.2x (excluding 2020 where the company reported impairment-related losses).

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now