Thursday, February 10, 2011

Kep Corp - Keppel gains on Ensco order; DMG keeps buy rating

Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
Research House: DMG


Keppel (BN4.SG) is up 0.3% at $11.60 after receiving a US$440 million ($561 miliion) order for two jack up rigs plus the option for two more to be exercised by August from Ensco (ESV). 



DMG & Partners keeps the rig builder at Buy with an unchanged $13.00 target. The house estimates Keppel Offshore & Marine’s YTD order wins at $1.55 billion and its outstanding orderbook at $5.95 billion. The STI is down 0.6%.

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