Stock Watch

'Buy' call on Keppel as infrastructure assets set to drive future growth

Keppel has announced a slew of initiatives and acquisitions, intended to prepare for the company's next stage of growth. PHOTO: KEPPEL CORPORATION
New: Gift this subscriber-only story to your friends and family

SINGAPORE - UOB Kay Hian has maintained a "buy" call on Keppel Corporation with an upgraded target price of $10.11, citing its restructuring which laid the foundations for the conglomerate's next stage of growth.

"Keppel, together with its subsidiaries, has spent over $3.2 billion on stakes in infrastructure assets globally to position itself for growth after the planned divestment of its offshore (and) marine unit, which is expected in the fourth quarter of 2022," analyst Adrian Loh wrote in a report on Monday.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.