Keppel Shares May Remain Rangebound as M1 Deal Stalls -- Market Talk

Dow Jones05-19

0636 GMT - Keppel Ltd.'s share price could be rangebound as its monetization momentum could falter slightly, CGS International analysts say in a note. The Singapore asset manager is focusing on optimizing its noncore telecom business M1, as the deal to sell the asset is likely to fall through following concerns raised by local regulators, they note. The analysts cut their estimates for total assets to be monetized this year to 2.0 billion Singapore dollars from S$2.5 billion and trim 2026 dividend per share forecast by S$0.02 to S$0.45. CGSI downgrades the stock's rating to hold from add, noting delays to the M1 deal as a key risk, and cuts the target price to S$11.50 from S$13.52. Shares are down 1.25% at S$10.25.(megan.cheah@wsj.com)

(END) Dow Jones Newswires

May 19, 2026 02:36 ET (06:36 GMT)

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The Singapore asset manager is focusing on optimizing its noncore telecom business M1, as the deal to sell the asset is likely to fall through following concerns raised by local regulators, they note. The analysts cut their estimates for total assets to be monetized this year to 2.0 billion Singapore dollars from S$2.5 billion and trim 2026 dividend per share forecast by S$0.02 to S$0.45. CGSI downgrades the stock's rating to hold from add, noting delays to the M1 deal as a key risk, and cuts the target price to S$11.50 from S$13.52. 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