OCBC Investment Research has kept its "buy" call on Sembcorp Industries, along with a raised fair value of $8.45 from $7.40 previously.

In its July 14 report, OCBC notes that SCI's share price has gained 35% year to date, outpacing the STI, which has reached a new high with its 8% gain in the same period.

"We attribute SCI’s strong share price performance year to date to stable growth outlook, healthy dividend and payout growth, and strategic renewables expansion," says OCBC.