Lim Siew Khee, an analyst from CGS International, reiterated the Buy rating on Keppel Corporation Limited. The associated price target is S$13.52.
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Lim Siew Khee has given his Buy rating due to a combination of factors, chiefly the strategic significance of the pending M1 divestment and its potential to unlock value. While the deadline extension reflects stricter regulatory review, he views ultimate completion as a major share-price catalyst, with room to adjust deal terms if Tuas must invest more in infrastructure or cyber security.
He also highlights Keppel’s guidance that a portion of asset monetisation proceeds will be returned to shareholders, implying an additional dividend once the M1 sale is finalised. Together with Keppel’s resilient recurring earnings base and scope for further asset sales, these elements support his positive stance despite risks from possible delays, regulatory-driven changes to the deal, or a slower monetisation timeline.
In another report released on March 11, J.P. Morgan also maintained a Buy rating on the stock with a S$13.10 price target.