Home Capital Broker's Calls

DBS maintains Keppel Corp's 'buy' call after Vision 2030 announcement

Felicia Tan
Felicia Tan5/29/2020 02:22 PM GMT+08  • 1 min read
DBS maintains Keppel Corp's 'buy' call after Vision 2030 announcement
Following Keppel Corporation’s unveiling of Vision 2030 to chart its growth path for the next decade, DBS Group Research analyst Ho Pei Hwa is maintaining the company’s “buy” call.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 29): Following Keppel Corporation’s unveiling of Vision 2030 to chart its growth path for the next decade on Thursday, DBS Group Research analyst Ho Pei Hwa is maintaining the company’s “buy” call with an unchanged price target of $6.80, which represents a 14% upside of the stock.

“Vision 2030 illustrates Keppel’s mission to be a creator of low-carbon smart cities, and [a] powerhouse of end-to-end solutions for sustainable urbanisation; and re-emphasises its target to deliver 15% ROE with good dividends and strong growth trajectory,” says Ho in a note dated May 29.

Sustainability is at the core of Vision 2030, with Keppel Corp refocusing its portfolio to be an integrated business instead of a conglomerate, to provide sustainable urban solutions, and set high-impact sustainability goals such as carbon emissions, and waste and water.

The integrated business model will see Keppel harnessing the unique strengths from its respective business units and sharing common resources, and will be supported by an upscaled asset management arm.

From 2Q20, the company will be reclassifying its businesses from Offshore & Marine, Property, Infrastructure, and Investment, to Energy & Environment, Urban Development, Connectivity, and Asset Management.

As at 2.18pm, Keppel Corporation shares were changing hands flat at $5.97.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.