Tiger Brokers

Keppel Could be Considered as Infrastructure Proxy in 2H

Dow Jones
Jul 10

0715 GMT - Keppel could be considered an infrastructure proxy in 2H, with the commencement of its Keppel Sakra Cogen plant in May 2026, CGS International analysts say in a research report. The plant adds 600 megawatts to Keppel's power capacity, with the brokerage estimating blended spark spread of around 50-60 Singapore dollars per megawatt. Together with Keppel's energy-as-a-service, net profit of the Singapore global asset manager and operator's infrastructure division could grow by roughly 11% on-year in 1H. The brokerage upgrades the stock's rating to add from hold and raises the target price to S$13.52 from S$11.50. Shares are 5.6% higher at S$11.50. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 10, 2026 03:15 ET (07:15 GMT)

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