Phillip Securities analyst Paul Chew has maintained their bullish stance on BN4 stock, giving a Buy rating yesterday.
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Paul Chew has given his Buy rating due to a combination of factors concerning Keppel Corporation Limited’s financial performance and strategic initiatives. The company’s adjusted PATMI for FY24 exceeded expectations, hitting 110% of the forecast despite a year-over-year decline. While the real estate division’s losses have stabilized, challenges persist in the infrastructure sector, attributed to lower contributions from Keppel Infrastructure Trust and MET.
Another key factor influencing the Buy rating is Keppel’s ongoing asset monetization strategy, with a target of S$10-12 billion by 2026, out of which S$7 billion has already been completed. The potential for vessel sales to bolster cash flow and the anticipated operational strength from new projects like the Keppel Sakra Cogen power plant contribute to an optimistic outlook. Additionally, Keppel’s transition into an asset management-focused entity, leveraging its investments in data centers and other infrastructure, offers a compelling 5% yield, enhancing its attractiveness to investors.
According to TipRanks, Chew is ranked #980 out of 9370 analysts.
In another report released yesterday, DBS also reiterated a Buy rating on the stock with a S$9.00 price target.