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Analysts reduce Keppel Corp’s target price on 1H20 impairment

Felicia Tan
Felicia Tan8/3/2020 02:44 PM GMT+08  • 4 min read
Analysts reduce Keppel Corp’s target price on 1H20 impairment
Following its results on Thursday (July 30), Keppel Corp announced on Saturday (August 1) that Temasek Holdings will decide if it wants to invoke the material adverse change (MAC) clause in its pre-conditional offer for the group of $7.35 per share.
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DBS Group Research, CGS-CIMB Research, and OCBC Investment Research have maintained Keppel Corporation (Keppel Corp) at “buy”, although all three brokerages have reduced the group’s target price due to its $930 impairment mainly related to Keppel Offshore & Marine (Keppel O&M).

DBS Group Research analyst Ho Pei Hwa has reduced Keppel Corp’s target price to $6.40 from $6.80 previously, while CGS-CIMB Research analyst Lim Siew Khee slashed the group’s target price to $6.46 from $7.48 previously. OCBC’s research team has also cut Keppel Corp’s target price to $6.40 from $7.16.

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