Keppel Corp 01 (May 08 - Dec 14)

[winston]

KEPPEL CORP - The world's largest rig-builder Keppel Corp said on Monday its units had secured a S$341 million ($261.3 million) contract in Britain for the engineering, procurement and construction of the second phase of an Energy-From-Waste project in the United Kingdom.

Source: Reuters

[winston]

Not vested

Keppel posts 8.4% growth in Q3 net profit By JOYCE HOOI

KEPPEL Corporation's net profit attributable to shareholders for the third quarter ended Sept 30, 2010 rose 8.4 per cent from $319.6 million a year ago to $346.3 million.

Revenue, however, fell 19.4 per cent from $3.04 billion to $2.45 billion for the same period.

For the nine months ended Sept 30, 2010, net profit attributable to shareholders rose 10.1 per cent to $1.02 billion, before taking into account last year's exceptional gain of $422 million from the disposal of SPC which was partially offset by impairment of non-performing assets.

Taking into account the disposal, net profit fell 24.5 per cent from $1.3 billion to $1.02 billion.

Revenue for the same period shed 20.4 per cent, from $9.22 billion to $7.34 billion.

Earnings per share for the quarter rose 7.5 per cent from 20 cents to 21.5 cents.

For the nine months ended Sept 30, 2010, earnings per share rose 9.2 per cent from 57.8 cents to 63.1 cents. After taking into account the SPC disposal, earnings per sharefell 25.1 per cent from 84.2 cents to 63.1 cents.

http://www.businesstimes.com.sg/sub/lat ... 28,00.html?

[winston]

Not vested

RESEARCH ALERT- DMG ups Keppel Corp target to S$11, keeps "buy"

SINGAPORE, Oct 22 (Reuters) - DMG & Partners raised its target price for Keppel Corp , the world's largest rig-builder, to S$11.00 from S$10.32 and maintained its "buy" rating.

STATEMENT: DMG has raised its earnings per share estimate for fiscal year 2010 by 6 percent and 2012 by 8 percent due to higher margin assumptions for its offshore and marine unit.

"Recent jackup wins by Sembcorp Marine are signs that rig owners are more bullish again on drilling demand despite the high number of newbuilds to be delivered over the next two years," DMG said in a report.

The broker noted that Keppel's management had also indicated a brighter outlook for new offshore orders after the U.S. government lifted the deepwater drilling ban in the Gulf of Mexico.

Keppel Corp said on Thursday its third quarter net profit rose 8.4 percent to S$346.3 million from a year earlier.


Source: Reuters

[winston]

Not vested. From Kim Eng:-

PE 10; EPS growth -20% ?

Keppel Corp (KEP SP, $9.71, BUY, TP $11.70)

Keppel Corp reported 3Q10 net earnings of $346.3m, up 8.4% versus 3Q09 and flat sequentially. This was ahead of our expectations due to continued strength in offshore & marine margins.

We remain optimistic about a resurgence of offshore orders, which could be a strong catalyst for Keppel’s share price.

We maintain our BUY recommendation and raise our target price to $11.70.

http://www.remisiers.org/cms_images/res ... rp_AFP.pdf

[winston]

Not vested

RESEARCH ALERT- OCBC ups Keppel Corp target to S$12.50

SINGAPORE, Nov 26 (Reuters) - OCBC Investment Research has raised its target price for Singapore's Keppel Corp , the world's largest rigbuilder, to S$12.50 from S$11.22 and kept its buy rating.

STATEMENT: OCBC has raised its 2011 earnings estimates for Keppel as recent contracts secured by the firm show that newbuild prices of premium jackup rigs have held up.

"Currently we still see good value in Keppel Corp's stock, and should the group secure its fair share of orders in the coming quarter, there is further room for better stock performance," OCBC said in a report.

The brokerage said the industry should see more new orders with renewed capital spending plans.

Keppel Corp shares have risen 31 percent so far this year and closed at S$10.78 on Thursday.


Source: Reuters

[winston]

Not vested

RESEARCH ALERT-DMG ups target price for Keppel Corp to S$12

SINGAPORE, Dec 3 (Reuters) - DMG Research has raised its target price for Keppel Corp , the world's biggest oil rig builder, to S$12 from S$11 and maintained its "buy" rating.

STATEMENT: DMG said the positive news that Keppel had secured two jackup orders for Asia Offshore Drilling (AOD) will boost the firm's share price, adding that the latest contract lifted its year-to-date order win to S$2.75 billion ($2.1 billion).

Keppel said on Thursday it had signed a deal to build two jackup rigs worth $360 million. The contract with AOD, a 49 percent affiliate of Singapore-listed Mermaid Maritime PCL , includes an option to build two similar rigs.

[ID:nL3E6N20P3] DMG maintained its earnings forecast for Keppel's 2010-2011 financial years and raised 2012 earnings estimates by 3.7 percent on higher operating margins for the offshore and marine unit. It added that the Petrobras order win remains the biggest share price catalyst for Keppel.

"We believe Keppel has a good chance of winning a major order from Petrobras as the company came in third in the drillship package (up to four to be awarded) and second in the tender for two separate broad design rigs," DMG said in a report.


Source: Dow Jones Newswire

[winston]

Hmm... starts?

RESEARCH ALERT-Phillip starts Keppel at "buy", target S$12.52

SINGAPORE, Dec 6 (Reuters) - Phillip Securities has initiated coverage of Singapore's Keppel Corp , the world's largest oil rig builder, at "buy" with a target price of S$12.52.

STATEMENT: Phillip said it expects Keppel to achieve slow and steady net profit growth for the next three years, in line with the global economic recovery.

"We feel that the outlook for Keppel is good as the increase in oil prices has led to more orders for oil rigs and production platforms," said Phillip in a report. Phillip expects Keppel to win some rig orders from Brazil's Petrobras .

Keppel's 2011 earnings growth may be relatively lacklustre, however, due to the smaller number of offshore and marine orders secured during the past two years. Contributions from property arm Keppel Land will also slow as a result of China and Singapore's measures to cool the real estate market.

Shares of Keppel have gained 31 percent since the start of the year to close at S$10.82 on Friday, beating the 9.5 percent gain in the Straits Times Index <.FTSTI>.


Source: Reuters

[winston]

Not vested

RESEARCH ALERT-CIMB ups target for Keppel Corp to S$13.50

SINGAPORE, Jan 18 (Reuters) - CIMB Research has raised its target price for Keppel Corp , the world's biggest rig builder, to S$13.50 from S$13.00 and maintained its "outperform" rating.

STATEMENT: CIMB said that according to oil and gas newswire Upstream, Keppel Corp unit Keppel Fels has emerged as the frontrunner for a $900 million contract from Maersk Drilling to build two jack-up rigs that can withstand harsh environments.

CIMB increased its order targets for Keppel's 2011-2012 financial years to $5 billion from $4.5 billion on the back of a strong order momentum, adding that it had lifted its earnings estimates for FY11-12 by 1-3 percent.

At 0317 GMT, Keppel Corp shares were up 1.1 percent at S$11.58 on a volume of 761,000 shares.

Source: Reuters

[Aspellian]

Analysts are once again falling over themselves to up price targets... bullish days are definitely here. every story is spinned positively even if its just lukewarm stories/prospects.

[winston]

Not vested

Keppel Corp , the world's largest rig builder, may be in focus after it posted a better-than-expected 17 percent rise in fourth quarter net profit on Tuesday, and said it was bullish about orders in coming months.


Source: Reuters