Sembcorp Industries shares slid to a four-month low of S$5.95 in early Friday trading, marking a 3.9% decline following a downgrade in profit forecasts by Citi.
The sell-off reflects growing investor caution regarding the company's near-term profitability amid rising operational costs.
Citi analysts trimmed their recurring profit forecasts for Sembcorp for the next three years by 6 to 11 percent.
The bank cited upcoming developments, including more expensive gas, as key factors that could weigh on the company's share price and margin outlook.
The repricing underscores the sensitivity of energy transition plays to commodity input volatility.
As Sembcorp pivots toward renewable energy and data centers, exposure to traditional gas markets remains a material risk factor for investors monitoring the stock's valuation.