Keppel Ltd.'s Underlying Earnings Growth Likely Supported -- Market Talk

Dow Jones
02/09

0528 GMT - Keppel Ltd.'s underlying earnings growth is likely to be supported by its asset management fees and lower interest rates, among other reasons, says Phillip Securities' Paul Chew in a note. The asset manager's 2025 profit after tax was within expectations, with gains led by real-estate asset management and operating performance at Keppel Real Estate Investment Trust, Chew notes. He raises his earnings and price-to-earnings multiples for Keppel Ltd.'s infrastructure and asset management segments to align more closely with sector peers. Phillip Securities also raises its target price to S$13.80 from S$12.20 while maintaining its buy rating. However, the brokerage expects overall earnings to be weighed by Keppel Ltd.'s non-core operations. Shares rise 3.8% to S$12.08. (megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

February 09, 2026 00:28 ET (05:28 GMT)

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