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A safe stock to ride both the O&M trough and property market upswing

PC Lee
PC Lee10/13/2017 11:32 AM GMT+08  • 2 min read
A safe stock to ride both the O&M trough and property market upswing
SINGAPORE (Oct 13): CIMB says Keppel Corp is a safe stock to ride the trough of the offshore & marine cycle as well as the upswing of the local residential property market.
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SINGAPORE (Oct 13): CIMB says Keppel Corp is a safe stock to ride the trough of the offshore & marine cycle as well as the upswing of the local residential property market.

The stock has also underperformed O&M peer Sembcorp Marine by 45% and Singapore’s major developers by 50% year to date.

“We upgrade Keppel from ‘hold’ to ‘add’ with a new SOP target price of $8.58, incorporating a revised RNAV for Keppel Land and Tianjin Eco City, as well as 2x O&M P/BV,” says analyst Lim Siew Khee in a Thursday report.

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