"We believe that Keppel’s strong engineering/construction roots and track record in capital management positions in its emergence and growth as a global asset manager," she adds, calling the stock an "undervalued gem".
DBS Group Research has reinstated coverage on Keppel Corporation (SGX:BN4
) with a "buy" call and bullish target price of $8.30, up some 40% from current levels.
"Keppel Corp offers investors a unique and unrivalled proposition as a global asset manager with developer and operator capabilities in real estate and green industrial space," writes analyst Ho Pei Hwa in her April; 16 note.
