Keppel Corp downgraded to "hold", target cut to $8.80 by Deutsche Bank

Stock Name: Keppel Corp
Company Name: KEPPEL CORPORATION LIMITED

Research House: Deutsche Bank

Price Call: BUY

Target Price: 8.80

SINGAPORE (Jan 9): Deutsche Bank has downgraded Keppel Corp to "hold" from "buy" and cut its price target to $8.80 from $11.80, saying new orders are likely to fall this year to about $2 billion from $5 billion in 2014 as oil prices tumble.

It has also cut its price target for Sembcorp Marine, for which it has a "sell" rating, to $2.50 from $3.20.

It now expects SembMarine to secure $1.3 billion of new orders in 2015, down from $4.2 billion last year.