UOB Kay Hian analyst Adrian Loh has maintained their bullish stance on BN4 stock, giving a Buy rating today.
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Adrian Loh has given his Buy rating due to a combination of factors that illustrate Keppel Corporation Limited’s promising financial performance and potential for growth. The company has exceeded expectations with a notable increase in profit from continuing operations, highlighting strong performances particularly in its asset management and connectivity sectors. Despite a decrease in pre-tax profit and operating loss in real estate, Keppel’s ability to maintain consistent dividends and a respectable yield suggests a stable financial foundation.
Further supporting the Buy rating is the impressive growth in recurring income from asset management and a substantial rise in net profit for the connectivity segment. Additionally, the company’s infrastructure division continues to generate strong operating income, and an improvement in return on equity reflects an upward trend in financial efficiency. The market’s interest in the Bifrost project, along with potential new cable initiatives, signals future growth opportunities which are likely to enhance Keppel’s market position.
In another report released today, DBS also reiterated a Buy rating on the stock with a S$9.00 price target.