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SembMarine continues to climb

Published Tue, Jan 23, 2018 · 09:50 PM

Singapore

SHARES of Sembcorp Marine continued to rally on Tuesday, amid renewed optimism over the business as well as speculation over a possible sale of the company.

The stock closed at S$2.57, up18 Singapore cents or 7.53 per cent. Some 33.1 million shares changed hands.

UBS Investment Research on Tuesday upgraded its rating on oil and gas firm Sembcorp Marine to a "buy" rating from "neutral", and lifted its target price to S$3.06 from S$1.85 previously. The bank said that SembMarine is expected to see a revival of new orders to S$4 billion in 2…