Adrian Loh, an analyst from UOB Kay Hian, maintained the Buy rating on Keppel Corporation Limited (BN4 – Research Report). The associated price target remains the same with S$9.25.
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Adrian Loh has given his Buy rating due to a combination of factors that highlight Keppel Corporation Limited’s strong performance and strategic initiatives. The company reported a 25% year-over-year increase in net profit for the first quarter of 2025, driven by stable infrastructure earnings and improved results from asset management and real estate segments. This robust performance underscores the effectiveness of Keppel’s diversified business model.
Additionally, Keppel’s asset monetization efforts have gained significant traction, with nearly S$350 million in transactions completed year-to-date, primarily from its Chinese and Vietnamese real estate segments. The company is also negotiating an additional S$550 million in potential real estate deals, expected to finalize soon. Furthermore, the termination of a segregated account has released substantial cash and shares, which could potentially be distributed as a special dividend, balancing shareholder returns with growth strategies. These factors collectively support the Buy rating, reflecting confidence in Keppel’s ability to deliver value to its shareholders.
In another report released yesterday, DBS also maintained a Buy rating on the stock with a S$9.00 price target.
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