The lower earnings forecast comes after talks at a recent OPEC+ meeting collapsed as Russia refused to agree to what would have been the deepest supply cuts seen since the 2008 financial crisis.
SINGAPORE (Mar 11): RHB Group Research has slashed Keppel Corp’s earnings forecast for FY2020 ending December by 13%, as the recent oil price collapse threatens to crush the conglomerate’s offshore and marine (O&M) forward orderbook.
However, the brokerage is keeping its “buy” call on Keppel Corp, albeit with a slightly lower target price of $7.60, down from $7.80 previously.
