The recent rally in the shares of Keppel Corp and Sembcorp Marine looks to be getting ahead of itself, according to one analyst.
“We have seen emerging client interest within the Singapore rig builders on the back of the oil price recovery in 2016,” said JP Morgan’s Ajay Mirchandai.
“As a result, both Keppel and Sembcorp Marine are up 16% and 11% year-to-date with both companies suggesting an improving non-rig order outlook.”
“While
