Phillip Securities analyst Paul Chew has maintained their bullish stance on BN4 stock, giving a Buy rating on August 1.
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Paul Chew has given his Buy rating due to a combination of factors that highlight Keppel Corporation Limited’s strong financial performance and strategic initiatives. The company’s revenue and adjusted PATMI for the first half of 2025 aligned with expectations, showing a 9% year-over-year growth primarily driven by asset management fees from Aermont. Keppel has also made significant progress in monetizing non-core assets, with a clear target of S$10-12 billion by the end of 2026, and has already completed S$7.8 billion of this goal.
Additionally, Keppel has announced a S$500 million share buyback program and maintained its interim dividend, indicating confidence in its financial health. The company’s infrastructure and asset management sectors are expected to see a surge in earnings over the next few years, which has led to an increase in the target price to S$10.50. Furthermore, the removal of the holding company discount reflects the synergies across its divisions, setting the stage for growth with upcoming projects like Keppel South Central and the Keppel Sakra Cogen power plant.
In another report released on August 1, DBS also reiterated a Buy rating on the stock with a S$9.00 price target.