Sembcorp Industries: Deutsche cited that in light of the uncertainties in the O&M industry and Singapore Utilities, share price of SCI has been volatile.
At current levels, the group's implied PE for its Utilities business is 6.9x, below its historical average of 7.6x and below regional peers at 14.0x.
But the house reckons it is still not time yet to bottom-fish, as industry prospects remain challenging.
Deutsche maintains their Hold rating and TP of $3.65.
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