0653 GMT - Sembcorp Industries' medium-term growth prospects appear intact, UOB Kay Hian's Adrian Loh says in a research report as the brokerage maintains the stock's buy rating. The industrial conglomerate has secured three new investment licenses in Vietnam, expanding its land bank and positioning its integrated urban solutions segment for growth in the high-potential market, the analyst notes. After the completion of its 30% stake acquisition in Senoko Energy, the company said it will seek to build on the asset's prime location in the north of Singapore in the near-to-medium term. The brokerage lifts its 2025-2026 earnings forecasts for the company by 2%-8%. It raises the stock's target price to S$8.00 from S$7.47. Shares are 0.8% lower at S$6.27.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 01:53 ET (06:53 GMT)
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