Keppel Land held at 'buy' with $4.09 fair value by OCBC

Stock Name: Keppel Land
Company Name: KEPPEL LAND LIMITED

Research House: OCBC

Price Call: BUY

Target Price: 4.09

SINGAPORE (Nov 28): OCBC Investment Research is maintaining its "buy" call on Keppel Land with a fair value of $4.09.

In a report out today, analysts Eli Lee and Andy Wong Teck Ching said Keppel Land's plan to subscribe to a 4.9% stake in Keppel DC REIT as well as the sale of two data centres in Singapore and acquisition of one centre in the Netherlands show the developer is rationalising its data centre business for growth.