Target Price: S$9.25 (SOTP-based)

Keppel’s strategic focus on asset-light operations, digital infrastructure, and strong capital recycling efforts continues to position the company for sustainable long-term growth. Despite near-term volatility in the real estate segment, Keppel’s high-margin businesses in connectivity and asset management are proving to be strong revenue drivers.

With a BUY recommendation and a target price of S$9.25, Keppel remains an attractive investment option for those seeking strong dividends, strategic growth, and a diversified business model