Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
Research House: DMG
“Operating margins are likely to stay at mid-teens as we expect Keppel to benefit from the high number of similar design jackup rigs and rising yard utilisation,” said DMG in a report.
However, the brokerage said it expects Keppel’s offshore and marine net profit to fall 20% in 2011, before rebounding 8% in 2012.
Company Name: KEPPEL CORPORATION LIMITED
Research House: DMG
DMG & Partners has raised its target price for oil rig builder Keppel Corp (KPLM.SI) to $13.94 from $13.00 and maintained its buy rating.
DMG has raised its orderbook forecast for Keppel to $6.5 billion from $4.5 billion previously, to reflect the firm’s strong order flow following its US$1.2 billion ($1.54 billion) worth of order wins from A.P. Moller Maersk.
DMG has raised its orderbook forecast for Keppel to $6.5 billion from $4.5 billion previously, to reflect the firm’s strong order flow following its US$1.2 billion ($1.54 billion) worth of order wins from A.P. Moller Maersk.
“Operating margins are likely to stay at mid-teens as we expect Keppel to benefit from the high number of similar design jackup rigs and rising yard utilisation,” said DMG in a report.
However, the brokerage said it expects Keppel’s offshore and marine net profit to fall 20% in 2011, before rebounding 8% in 2012.
At 9:22 a.m., shares of Keppel were 1.3% higher at $11.36, and have gained 0.35% since the start of the year.
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