Wednesday, April 6, 2016

Sembcorp Industries

Sembcorp Industries: UBS cuts TP for Sembcorp Industries by 16% from $3.74 to $3.13.
- Outlook choppy for Marine but stable for Utilities
- Utilities earnings are likely to be stable, but asset growth is unlikely to be strong enough to offset the shortfall from Marine earnings
- Likelihood on the need to inject capital into Sembcorp Marine is high

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