Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
DMG & Partners Securities in a June 10 research report says: "Keppel announced that they have secured a US$142 million ($175 million) order for a semi-submersible drilling tender from Seadrill. We estimate that total YTD order wins climbed to $6.8 billion and outstanding order book is now at $9.9 billion.
"We think Keppel is on track to hit our full-year new order forecast of $9 billion. The outlook for the offshore marine sector remains robust current high crude oil prices are significantly above the investment threshold of major exploration and production companies.
"We maintain our EPS estimates and SOTP-derived target price of $13.80. The stock is now trading at 14.8x FY11 P/E and 13.7x FY12 P/E. MAINTAIN BUY."
Company Name: KEPPEL CORPORATION LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 13.80 |
DMG & Partners Securities in a June 10 research report says: "Keppel announced that they have secured a US$142 million ($175 million) order for a semi-submersible drilling tender from Seadrill. We estimate that total YTD order wins climbed to $6.8 billion and outstanding order book is now at $9.9 billion.
"We think Keppel is on track to hit our full-year new order forecast of $9 billion. The outlook for the offshore marine sector remains robust current high crude oil prices are significantly above the investment threshold of major exploration and production companies.
"We maintain our EPS estimates and SOTP-derived target price of $13.80. The stock is now trading at 14.8x FY11 P/E and 13.7x FY12 P/E. MAINTAIN BUY."
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