Summary: Goldman Sachs initiated coverage of Sembcorp Industries with a “buy” recommendation, citing its attractive valuation and solid business model. The company’s expansion into regions with favorable renewables dynamics, such as India and the Middle East, is expected to drive faster earnings growth compared to China and developed market peers. Goldman Sachs forecasts a potential upside of 27.9% for Sembcorp’s stock, driven by portfolio optimization, steady capacity growth, and potential upward revision of its long-term return on equity guidance.

Link: https://www.businesstimes.com.sg/companies-markets/sembcorps-renewables-business-could-power-earnings-upside-goldman-sachs-rates-stock-buy