Paul Chew, an analyst from Phillip Securities, maintained the Buy rating on Keppel Corporation Limited. The associated price target was raised to S$12.20.
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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 growth prospects. The company reported a significant increase in its core net profit for the first nine months of 2025, with a notable rise in recurring net profit driven by asset management and operating income. This growth trajectory is supported by an impressive jump in equity raised, which underscores the momentum in its asset management franchise.
Looking ahead, Keppel Corporation is poised for further growth with several strategic projects coming online. The Keppel Sakra Cogen Plant is expected to become operational in the first half of 2026, significantly boosting power capacity. Additionally, the completion of the Bifrost subsea fibre and waste-to-energy projects will enhance recurring earnings. The company’s focus on decarbonisation and sustainability solutions, along with a growing base of funds under management, further strengthens its earnings outlook. These factors, combined with expected higher dividends from asset monetisation and a share buyback program, contribute to the positive investment thesis and the raised target price.
Chew covers the Industrials sector, focusing on stocks such as Keppel Corporation Limited, Comfortdelgro, and Sembcorp Industries. According to TipRanks, Chew has an average return of 21.7% and a 68.78% success rate on recommended stocks.
In another report released on October 29, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a S$11.00 price target.