Keppel Set to Benefit From Data Centers, Other Assets -- Market Talk

Dow Jones11-01

0420 GMT - Keppel stands to benefit from assets including data centers, UOB Kay Hian's Adrian Loh says in a research report. The main attraction of data centers for Keppel is its ability to garner multiple revenue streams from this asset as an owner and operator through various fees and gains from the disposal of assets. The Singaporean company has flagged that it'll seek to expand gross power capacity at data centers by 500 megawatts to nearly 1.2 gigawatts in the near term, the analyst notes. Keppel also has a 'Bifrost' asset, a trans-Pacific cable system which is likely to be a long-term revenue generator. The brokerage raises its target price for the stock to S$9.25 from S$8.86 with an unchanged buy rating. Shares are unchanged at S$6.40.(ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 01, 2024 00:20 ET (04:20 GMT)

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