Stock Name: Keppel Corp
Company Name: KEPPEL CORPORATION LIMITED
Company Name: KEPPEL CORPORATION LIMITED
| Research House: Nomura | Price Call: SELL | Target Price: 7.95 |
SINGAPORE (Jan 15): Nomura has cut its price target for Keppel Corp to $7.95 from $9.27 to factor in an expected decline in new orders in 2015 and a lower price-to-book valuation peg for the conglomerate's offshore and marine business.
It has a "reduce" rating on the stock.
Keppel is more exposed to newbuild jack-up rig orders than to drillships, which are still in demand, according to Nomura analysts Chong Wee Lee and Abhishek Nigam.
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