Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
Company Name: KEPPEL CORPORATION LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 13.70 |
Target S$13.70
Pemex's plan to increase its jack-up fleet from the current 22 units to 40 before the end of 2012 could lead to some newbuild orders in the coming months. Maintain Outperform and target price, still based on SOP. No change to our EPS estimates and non-Petrobras order assumption of S$2bn for 2012. Stronger-than-expected order wins could be the key catalyst.
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