Analysts positive on Keppel Corp following clearer roadmap for Vision 2030

DBS Group Research analyst Ho Pei Hwa has upgraded her call on Keppel Corporation to “buy” from “hold” with an unchanged target price of $5.50.

“[The] recent price correction of about 20% [following Temasek’s partial offer] has dragged its valuation to near trough of 0.73x price to book value (P/BV) or 2 standard deviation (SD) below its 5-year mean (1.1x P/BV),” Ho writes in a report dated September 30.

Keppel Corporation, on September 29, said that it has set out clearer intentions for Vision 2030, and says it will roll out the next steps for its implementation.

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