Brokers' take
Keppel Corp | HOLD (downgraded) Target price: S$7.50 Jan 28 close: S$6.14 KGI Securities, Jan 28
Keppel's diversified business was evident in FY2018's results, as we saw both its property and infrastructure segments contribute most of its full-year earnings growth, which more than offset weak (but improving) performance at its offshore & marine (O&M) business and provisions under its investment segment.
However, there may be property sector headwinds given that Singapore and China's home sales contributed 70 per cent of total home sales of Keppel - and that both still have cooling measures in place - this segment may potentially surprise on the downside.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand