Sembcorp shares end 4.3% higher as CGSI adds counter to top Singapore picks
Analysts say the stock is trading at an ‘undemanding’ valuation of nine times its estimated FY2027 PE ratio
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[SINGAPORE] Shares of energy player Sembcorp Industries jumped on Wednesday (Mar 18), buoyed by a bullish broker note highlighting its defensive qualities.
The counter was up as much as 4.4 per cent over the day, climbing S$0.26 to reach S$6.11 as at 4.07 pm. It later closed at S$6.10, up by 4.3 per cent or S$0.25, with 11.3 million shares changing hands.
The rally comes as CGS International (CGSI) added Sembcorp to its list of Singapore top picks, while keeping its target price steady at S$7.68. In a report on Mar 17, the research house cited the company’s relatively cheap valuation and its defensive qualities against global gas price volatility.
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