Keppel, Sembcorp Marine ratings upgraded at Citigroup

Monday, 20 April 2009 09:22
Keppel Corp. and SembCorp Marine, the world’s two-largest builders of oil rigs, were upgraded at Citigroup Inc., which cited “positive data points.”
Keppel was raised to “buy” from “hold,” while Sembcorp Marine was raised to “hold” from “sell,” Citigroup said.
Separately, the brokerage lowered its recommendation on SembCorp Industries to “hold” from “buy” and cut its rating on Cosco Corp. Singapore to “sell” from “hold”.