A better year for Keppel

SINGAPORE (Jan 12): RHB is keeping its “buy” call on Keppel Corp with a target price of $6.52 on the basis that its property and infrastructure arms, Keppel Land and Keppel Infrastructure, will continue to support the group’s earnings.

In its Singapore Strategy report released recently, RHB estimates that Keppel Corp is presently being valued only on its property, infrastructure and investment segments which the research house thinks are “doing well”.

At the same time, it reckons Keppel’s offshore & marine (O&M) unit is “hunkering down” with new contracts of about $500 million as of late 2016 as well as an ex-Sete Brasil orderbook of $4.1 billion.  

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