Tuesday, July 19, 2011

SembMarine

SembMarine: DnB NOR maintains Sell with TP $5.00. Note that recent $600m turnkey EPCIC platform contract is positive on the contract win, but do not expect material adjustments to estimates, as this S$600m contract would make up part of FY new order estimate of production-related orders of $1.2b for FY2011.

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