Keppel Corp started at "hold", $8.55 target by Daiwa

Stock Name: Keppel Corp
Company Name: KEPPEL CORPORATION LIMITED

Research House: Daiwa

Price Call: HOLD

Target Price: 8.55

SINGAPORE (Feb 3): Daiwa has started coverage on Keppel Corp with a "hold" rating and a sum-of-parts price target of $8.55.

Barring any contract cancellations, Keppel's current offshore and marine order book should put the rig builder in a good position to ride out any near-term volatility in the industry, according to Daiwa analyst Royston Tan.

Still, growing its order book, especially for new building projects, could be a challenge from 2015 to 2017, he said.