Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
Company Name: KEPPEL CORPORATION LIMITED
| Research House: DBS Vickers | Price Call: BUY | Target Price: 12.90 |
DBS Vickers is maintaining its Buy rating for Keppel with a target price of $12.90 despite trimming down its FY13 core profit by 1.5% to account for the higher taxes in 2Q13. Its target price has also been lowered to $12.90.
“While Keppel faces industry challenges from keener competition, economic uncertainty, and tighter credit environment, its solid execution track record, global yard network, and world-class proprietary designs are unrivalled. Keppel’s share price is also likely to react positively to the surprise dividend-in-specie. Maintain Buy.” says analyst Janice Chua and Ho Pei Hwa in a DBSVO Clarity email blast on July 19.
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