Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
Research House: UOB KayHian
Company Name: KEPPEL CORPORATION LIMITED
Research House: UOB KayHian
UOB Kay Hian upgraded Keppel Corp (KPLM.SI), the world’s largest oil rig builder, to buy from sell and raised its target price to $13.00 from $9.70.
UOB said it raised its estimates for Keppel due to its strong order wins of $3.7 billion in the first two months of the year, which have already surpassed 2010’s total orders of $3.2 billion.
UOB said it raised its estimates for Keppel due to its strong order wins of $3.7 billion in the first two months of the year, which have already surpassed 2010’s total orders of $3.2 billion.
The brokerage now expects Keppel to win $7 billion worth of contracts this year, up from its previous estimate of $4 billion.
It has also raised its pre-tax margin assumptions for Keppel in 2012 and 2013 by 1.5 percentage point to 15%.
Shares of Keppel were 1.4% lower at $11.56 at 10:37 a.m. but have risen 2.1% so far this year.
No comments:
Post a Comment