Singapore Stock Market News

Keppel T&T - Growth from within

StockFanatic
Publish date: Wed, 25 Sep 2013, 10:41 PM
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Keppel T&T has been aggressively expanding its core operations, with four new logistics facilities and a third data centre slated to open in FY14-15. These projects will allow the company's earnings profile to rely more on its core businesses and less on its investment in M1. We factor in contributions from the new logistics parks in China and Singapore, which raises FY13-15 EPS by 2-6%. Our SOP-based target price inches up to S$1.65.

We maintain our Outperform call, with new logistics facilities and data centre additions as catalysts.
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