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'Buy' Keppel, 'sell' SembMarine as Bayberry nears fruition: analysts

Jovi Ho
Jovi Ho4/29/2022 10:05 AM GMT+08  • 5 min read
'Buy' Keppel, 'sell' SembMarine as Bayberry nears fruition: analysts
One of the many rigs built by Keppel. Photo: The Edge Singapore
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As Keppel comes out tops in its long-awaited merger with Sembcorp Marine, analysts recommend investors “buy” Keppel Corporation and “sell” the latter.

In an April 28 note, OCBC Investment Research has a “sell” call on SembMarine with a target price of 11 cents. OCBC Investment Research also has a “buy” call on Keppel Corporation with a target price of $8.78.

Keppel Corporation has been an outperformer so far this year, says OCBC Investment Research. “Since the start of the year, the share price of Keppel Corporation has appreciated by about 30% (based on the closing price of $6.66 on April 26), significantly outperforming the broader Straits Times Index.”

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