Brokers’ take: DBS upgrades Keppel to ‘buy’, says O&M review could restore confidence

The Business Times | Sep 30, 2020 at 2:00 AM
  • DBS Group Research has upgraded Keppel Corp to “buy” from “hold” following its recent price correction and given that the strategic review of its offshore and marine (O&M) arm will “shine some light at the end of the tunnel”.
  • CGS-CIMB analyst Lim Siew Khee noted that Keppel’s O&M review could lead it to scale down its operations to focus on renewable energy.
  • The brokerage also expects to see accelerated efforts in Keppel selling its landbank or commercial buildings as part of its three-year plan to unlock assets.