Sembcorp Marine | Buy
Oct 8 close: S$3.62
Target price: S$4.18
OCBC Investment Research, Oct 8
Sembcorp Marine's (SMM) share price has fallen by about 10 per cent since early September, with about half of this drop in the last five trading days. We believe that this is partly due to weaker oil prices of late, as well as company-specific factors such as worries over execution risks for its new drillship.
According to our checks, the first drillship has finally left for Brazil, and SMM has reiterated that...