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Brokers' take: UOBKH raises Sembmarine target on order wins, lower corporate risk
VIVIENNE TAY
APR 14, 2022 04:30 PM
UOB Kay Hian (UOBKH) on Thursday (Apr 14) raised its target price on Sembcorp Marine (Sembmarine) to S$0.13 from S$0.11, while maintaining its "buy" call on the marine and offshore group.
The research team views mainboard-listed Sembmarine as a "turnaround story" with its recent large order win, indicating possible positives when it comes to new order wins, especially when it comes to the renewables sector.
On Mar 23, Sembmarine said it obtained a contract to construct a wind turbine installation vessel. UOBKH conservatively estimates the undisclosed contract value to be around S$650 million.
The higher target price of S$0.13 is pegged to the research team's estimated aggregated book value per share for 2022 and 2023. It also represents a potential upside of 9.2 per cent from the counter's last trading price of S$0.119 as at 3.54 pm on Thursday.
Sembmarine's shares were trading 2.6 per cent or S$0.003 higher at the time. The counter was also the most heavily traded by volume with 686.9 million shares changing hands.
The research team continues to project a slight loss for Sembmarine in 2022, versus Bloomberg consensus estimates, which are projecting much larger losses. That being said, some of these loss forecasts have been scaled back the past 2 months, UOBKH noted.
"Should the company win more orders, the earnings turnaround story for 2023 could become more compelling over the next 6 months," UOBKH added.
It believes that much of Sembmarine's corporate-level risk has dissipated due to the completion of the group's S$1.5 billion rights issue. Temasek's mandatory general offer of S$0.08 per share had also lapsed in November 2021.
Moreover, Sembmarine's share price has climbed 42 per cent in the year-to-date period, outperforming the Straits Times Index rise of 8 per cent, indicating near to medium-term upside.
UOBKH attributed the rally in share price to the impending disclosure of the Sembmarine and Keppel Offshore & Marine's (Keppel O&M) merger terms by Apr 30 as well as new order wins for oil and gas production assets and renewable industry assets.
The research team holds the view that a merger between Sembmarine and Keppel O&M would create a more competitive and larger-scale offshore construction company that could be "on the cusp of a turnaround in profitability".
You are the modest naysayer.
I am still holding smaller position but does not mean I will not re load or re nibble when there is some retreat.
This is my best investment this year.
Too many naysayers in this thread in the past.
My staunch belief of two target prices (0.11 and 0.124) had been hit.
Go to the other thread if you wish to fish more substantive and substantiated posting especially by Better.
I was one of the believers that scooped big time in 8 series, held on to our beliefs and scoop at 9, not let go at 10 and when it retreated back to 9 series, scooped a little more. Greed might make me regret not loading up even more when if u turned to 9 series for the last time. My massive bullets were ready for huge haul but instead just picked up a meager 500 lots. From hind sight, there would be lots of IFs but I am very very contented to be in the first class cabin of this early train.
I am still holding smaller position but does not mean I will not re load or re nibble when there is some retreat.
This is my best investment this year.
Too many naysayers in this thread in the past.
My staunch belief of two target prices (0.11 and 0.124) had been hit.
Go to the other thread if you wish to fish more substantive and substantiated posting especially by Better.
I was one of the believers that scooped big time in 8 series, held on to our beliefs and scoop at 9, not let go at 10 and when it retreated back to 9 series, scooped a little more. Greed might make me regret not loading up even more when if u turned to 9 series for the last time. My massive bullets were ready for huge haul but instead just picked up a meager 500 lots. From hind sight, there would be lots of IFs but I am very very contented to be in the first class cabin of this early train.
TigerPlay ( Date: 14-Apr-2022 16:24) Posted:
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If I interpret correctly meaning now is quite dangerous to go in or even to hang on to this SCM right? Even all of you die-heart supporter oso starting selling now.
My knowledge is very shallow, so I may interpret wrongly.
My knowledge is very shallow, so I may interpret wrongly.
PHInsider63 ( Date: 14-Apr-2022 14:31) Posted:
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But this one may have valid reason leh, not due to some foul play mah. The merger coming lor
easywin ( Date: 14-Apr-2022 14:58) Posted:
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now I know
easywin ( Date: 14-Apr-2022 14:58) Posted:
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Shortage of manpower? busy to check Tritech
rlong8288 ( Date: 14-Apr-2022 14:33) Posted:
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Why so many days ups SGX did not enquiries???????
Yes you are in this game
Taken profit and left 2.5kk shares.
Cost of purchase less than overall profit now
So even if this SM is zero, I still gain
This is what I meant and I think you know what I meant
Sorry Week guy is really weak in knowledge
Not meant to dig at him but he needs to be humble and honest and stop barking in this thread
Taken profit and left 2.5kk shares.
Cost of purchase less than overall profit now
So even if this SM is zero, I still gain
This is what I meant and I think you know what I meant
Sorry Week guy is really weak in knowledge
Not meant to dig at him but he needs to be humble and honest and stop barking in this thread
TigerPlay ( Date: 14-Apr-2022 14:29) Posted:
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If that is true and if you buy at 8cts, sold at 12cts, to make 250K, you invested 500K in SCM when it is at 8cts.
Congrats and Char Kway Tiao for all hor.
But to me, SCM is very risky leh, I would have invested the money in some blue chip which is safer kind.
This time you win liaow lor, but hope you got the same luck when you invested in this again, but then why sell now given that this group have taken the stand this sCM will continue to go up 100% leh. Maybe I can learn from you the trick lor.
Congrats and Char Kway Tiao for all hor.
But to me, SCM is very risky leh, I would have invested the money in some blue chip which is safer kind.
This time you win liaow lor, but hope you got the same luck when you invested in this again, but then why sell now given that this group have taken the stand this sCM will continue to go up 100% leh. Maybe I can learn from you the trick lor.
PHInsider63 ( Date: 14-Apr-2022 13:52) Posted:
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i also want with extra cockles hor ... 😁
skykheng ( Date: 14-Apr-2022 14:14) Posted:
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You are his spokesman? I rem you sold at 8c plus last time citing lack of activity. Now you keep coming in to promote peace.
TigerPlay ( Date: 14-Apr-2022 13:09) Posted:
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but i also want char kway tiao....
PHInsider63 ( Date: 14-Apr-2022 14:05) Posted:
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Sorry guys
Not meant to be proud
It s between me and the week guy
Not meant to be proud
It s between me and the week guy
PHInsider63 ( Date: 14-Apr-2022 14:04) Posted:
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Pm me
Let s meet
I buy you char kway tiao
I will introduce myself to let you know I don know how to lose.
I will give you a few free lessons
Only you.
Let s meet
I buy you char kway tiao
I will introduce myself to let you know I don know how to lose.
I will give you a few free lessons
Only you.
weekaykee ( Date: 14-Apr-2022 13:58) Posted:
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How to lose now? 😂
weekaykee ( Date: 14-Apr-2022 13:56) Posted:
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And forgot to mention, with your attitude in particular, i am 100% sure you will be a nett loser 20 years down the road.
weekaykee ( Date: 14-Apr-2022 13:56) Posted:
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Good for you.
But do share when you start losing. Do not be shy and nothing to be embarassed about. We all lose money from time to time. You will be no different
Long way to go. Once tasted success, will keep going in and out and then we shall see whether you get trapped.
But do share when you start losing. Do not be shy and nothing to be embarassed about. We all lose money from time to time. You will be no different
Long way to go. Once tasted success, will keep going in and out and then we shall see whether you get trapped.
PHInsider63 ( Date: 14-Apr-2022 13:52) Posted:
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Taken $250k profit
Yummy!!!
Yummy!!!
weekaykee ( Date: 14-Apr-2022 13:51) Posted:
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At least the naysayers are here, whether SCM is rising or falling.
Majority of you are heard only on the rare occasion when SCM starts rising.
Must remain cool under all conditions. No dramas or excitement whether stock is collapsing or flying away.
With this attitude, how to make money from stocks in the long term.
Losers will only realise they were too lousy as stock investors 20 years down the road. You will likely be one of them.
Majority of you are heard only on the rare occasion when SCM starts rising.
Must remain cool under all conditions. No dramas or excitement whether stock is collapsing or flying away.
With this attitude, how to make money from stocks in the long term.
Losers will only realise they were too lousy as stock investors 20 years down the road. You will likely be one of them.
stanleytay ( Date: 14-Apr-2022 12:14) Posted:
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I dun think CK is vested. It is good to have different views lar, dun you think is more fun? Be it bullshit or cowshit, it will bring life to this forum.
Same goes for those who say SCM gonna shoot to $1 etc, is fun to hear that too, be it bullshit or monkeyshit lor.
Maybe we can reserve the other thread, the Green is Gold thread for pp who cannnot or dun like to hear a different view and go there and post, like what Fried Banana mentioned, those always 24x7 positive about SCM, setup that thread so that those got different views dun go there and post, like that is 1 way of hearing only the good things there, dun you think so. Just my tot.
Peace no war like that lor.
Btw, if you have not noticed, CK is not active there, so far din see him post anything there, so he is right on thread not to step on those +ve view post there.
Same goes for those who say SCM gonna shoot to $1 etc, is fun to hear that too, be it bullshit or monkeyshit lor.
Maybe we can reserve the other thread, the Green is Gold thread for pp who cannnot or dun like to hear a different view and go there and post, like what Fried Banana mentioned, those always 24x7 positive about SCM, setup that thread so that those got different views dun go there and post, like that is 1 way of hearing only the good things there, dun you think so. Just my tot.
Peace no war like that lor.
Btw, if you have not noticed, CK is not active there, so far din see him post anything there, so he is right on thread not to step on those +ve view post there.
stanleytay ( Date: 14-Apr-2022 12:14) Posted:
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