Keppel land has grown 180% YOY relative to this week prices. BNP Paribas says Keppel Land's price has crossed its fundamentals, and exceeded the fair value. I cashed out of Keppel Land last week at $3.63 and prices seem to be hovering around that level ever since.
The strong near term prospects of Keppel Land due to the FY10 Integrated Resort development seem to have already been factored into the price, according to the broker house. Their target price is $3.07 but I am not sure when they are referring to. The financial results due 25th gives some opportunity I sense, but it'll probably be a short spike in price if there is any good news at all. I guess positive sentiment can only go so far.
Decided to buy in Keppel Corp this morning. It hit $8.70 exactly 1 week ago, and presently, the price seems to be hovering around $8.55. I am banking on Keppel's growing order book and potential contracts with Brazil. The possible listing of their on business trust might also unlock some value for their infrastructure assets.
Current market is still being overbought by 752 points, but still 'better' from an investor's perspective compared to yesterday's 1000+ points. Now is the time to start picking out counters.
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