Broker: Sembcorp Industries has ‘buy’ rating over manageable debt levels

Sembcorp Industries will also see a growth of mergers and acquisitions activity in 2023.

Sembcorp Industries posted strong 2022 results as its conventional energy and renewables segments are both performing well, UOBKayHian said.

The firm is expected to see more mergers and acquisitions this year especially in its renewables business.

Sembcorp has $3.7b to capitalise on such opportunities as it also manages its debts very well.

UOBKayHian upgraded earnings estimates and assigned a BUY rating to Sembcorp.

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