Nomura raises Keppel Corp’s (BN4.SG) target to $15.00 from $13.10, reiterates its Buy rating after factoring in strong FY10 earnings (7.0% ahead of the house’s estimate) plus the recent run-up in jack-up rig contracts.
Posts Tagged ‘Keppel’
Keppel +4.2%; rises further on contract win
January 27th, 2011 |
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Keppel Corp. (BN4.SG) rises further, and is up 4.2% at $12.42 vs up 3.0% at $12.28 by the midday break, after it bolsters the now-consensus bullish view over offshore & marine orders with news of another contract.
Keppel says it has secured a contract worth about US$416 million ($532 million) from Discovery Offshore to construct two harsh environment jackup rigs based on its proprietary KFELS Super A Class design.
Keppel to build two jackups worth US$416m for Discovery Offshore
January 27th, 2011 |
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Keppel FELS says it has secured a contract worth about US$416 million ($532 million) from Discovery Offshore S.A. (Discovery Offshore) to construct two harsh environment jackup rigs based on KFELS’s Super A Class design.
The rigs are scheduled for delivery in 1H and 2H 2013 respectively. The construction, marketing and operation of both units will be managed by Nasdaq-listed Hercules Offshore, Inc., which is a leading global operator of jackup and liftboat assets.
Keppel gets jack-up rigs contract worth about $532 mln
January 27th, 2011 |
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Keppel Corp (KPLM.SI), the world’s largest oil rig builder, said on Thursday it has secured a contract worth about US$416 million ($532 million) to build two harsh environment jack-up rigs from Discovery Offshore S.A.
The jack-ups are scheduled for delivery in the first and second half of 2013, respectively.
Discovery Offshore has options to order two additional jack-up units as part of the contract, which if exercised will raise the total contract value to more than US$840 million.
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STI +0.1% midday; Keppel, NOL gains support
January 27th, 2011 |
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The STI is +0.1% at 3224.04 midday, off its early 3208 low, helped by gains in NOL (N03.SG), which is +3.7% at $2.26 after a string of recent declines, and Keppel Corp. (BN4.SG), +3.0% at $12.28, still riding the positive reaction to 4Q results Tuesday.
Volume is modest at 874 million shares worth $817 million, with decliners and gainers evenly matched in the broad market.
Keppel +4.9%; analysts laud results; $12.00 cap
January 26th, 2011 |
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Keppel Corp. (BN4.SG) is +4.9% at $11.90 in active trade of almost 9 million shares, at its highest level since June 2008, as analysts laud the rig builder’s 4Q results and increase target prices and earnings estimates.
Keppel Corp +2.3% after record 4Q earnings
January 26th, 2011 |
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Keppel Corp. (BN4.SG) is up 2.3% at $11.60 in active trade after its 4Q earnings beat the street, with net profit of $403 million, the first time the S$400 million mark has been breached.
Phillip Securities says the results were above its expectations; it maintains its Buy call and raises its fair value to $13.40 from $12.52 (on an increased valuation for O&M to 15X vs 13.5X FY11E).
Jan 26: Harry’s, Keppel, SIA Engineering, XMH
January 26th, 2011 |
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The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index lost 0.1% to 3,181.15.
Fortune Real Estate Investment Trust (FRT SP): The Hong Kong-based shopping mall operator said fourth-quarter income for distribution increased 11% to HK$105.7 million ($17.4 million) from a year ago. The stock was unchanged at HK$4.05.
Jan 26: Singapore stocks likely to see weak start, Keppel Corp in focus
January 26th, 2011 |
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Singapore shares are likely to see a weak start on Wednesday after most Wall Street indices were flat overnight, as a surprise contraction in the British economy shook investors’ confidence. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.14% on Tuesday to 3,181.15 points. Here are some stocks and factors to watch:
Keppel profit rises 17% as economy revives rig demand: Update 2
January 25th, 2011 |
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Keppel Corp., the world’s largest oil-rig maker, said profit in the fourth quarter rose 17%, beating analysts’ estimates, as rising oil prices and requirements for newer, safer rigs stoked demand.
Net income climbed to a record $403 million from $343 million a year earlier, the company said today. That surpassed the $371.3 million average of four analyst estimates compiled by Bloomberg. Sales fell 19% to $2.44 billion.
Keppel profit rises 17% as economy revives rig demand: Update
January 25th, 2011 |
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Keppel Corp., the world’s largest oil-rig maker, said profit in the fourth quarter rose 17%, beating analysts’ estimates, as rising oil prices and requirements for newer, safer rigs stoked demand.
Net income climbed to a record $403 million from $343 million a year earlier, the company said today. That surpassed the $371.3 million average of four analyst estimates compiled by Bloomberg. Sales fell 19% to $2.44 billion.
Keppel profit rises 17% as economy revives rig demand: Update
January 25th, 2011 |
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Keppel Corp., the world’s largest oil-rig maker, said profit in the fourth quarter rose 17% to a record, beating analysts’ estimates, as a global economic recovery stoked demand.
Net income climbed to $403 million from $343 million a year earlier, the company said in a Singapore stock exchange statement today. That surpassed the $371.3 million average of four analyst estimates compiled by Bloomberg. Sales dropped 19% to $2.44 billion.
Keppel Corp. posts 4Q net income of $403m
January 25th, 2011 |
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Keppel Corp., the world’s largest oil-rig maker, reported fourth-quarter net income of $403 million, compared with $343 million a year earlier. Analysts expected profit of $371.3 million, based on four estimates compiled by Bloomberg.
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Keppel Corp 2010 net profit rises 12%
January 25th, 2011 |
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Keppel Corp, the world’s largest rig builder, reported a better than expected 12% rise in its full-year net profit on Tuesday, helped by stronger margins in the offshore marine business and in its property arm.
The company, more than one-fifth owned by Singapore state investor Temasek Holdings (TEM.UL), posted a net profit of $1.42 billion before exceptionals, up from $1.26 billion a year ago.
Shares flat at midday on inflation woes, Keppel Land up
January 25th, 2011 |
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Singapore shares were flat by the midday break on Tuesday as concerns over inflation and tightening policies in Asia weighed on sentiment, but property developer Keppel Land (KLAN.SI) outperformed the market following its strong earnings.
By the break, the Straits Times Index (STI) <.FTSTI> was up 1.44 points at 3,187.20. The total value of shares traded in the morning session was $845.1 million, up from $562.1 million
Macquarie ups Keppel Land target to $4.81
January 25th, 2011 |
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Macquarie has raised its target price for Keppel Land (KLAN.SI), Singapore’s third-largest property developer, to $4.81 from $4.43 and kept its “neutral” rating.
Macquarie said Keppel Land’s core earnings for 2010 was $273.2 million, which were driven by residential projects in Singapore and China.
Deutsche Bank raises Keppel Land target to $5.08
January 25th, 2011 |
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Deutsche Bank raises Keppel Land (K17.SG) target price to $5.08 from $5.00 pegged to parity to RNAV and reflecting mark-to-market of KREIT (K71U.SG), higher-than-expected gain from the MFBC divestment, a higher-than-expected ASP for Lakefront and surplus on Nantong.
Keppel Land up on earnings, more upside seen
January 25th, 2011 |
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Shares of Singapore’s third-largest property developer Keppel Land (KLAN.SI) rose as much as 2.2% on Tuesday after it reported record net profit of over $1 billion for 2010.
At 9:40 a.m., shares of Keppel Land were 1.8% higher at $4.65 with over 1.3 million shares changing hands.
Keppel Land +2.0%; FY10 results positive – OCBC
January 25th, 2011 |
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Keppel Land (K17.SG) opens +2.0% at $4.66 after it reports an eight-fold on-year increase in 4Q net profit to $841 million, mainly due to a $363.8 million divestment gain from its stake in Marina Bay Financial Centre Phase 1 and fair value gains of $442.7 million from investment properties.
OCBC, which has its previous Buy rating and $4.50 fair value under review, says the FY10 results were positive, notwithstanding the bumper gains.