Wednesday, May 25, 2011

Kepcorp

Kepcorp: Daiwa maintains O/p and increases TP to $13.58 from $13.42. Believe the stock remains a good proxy to ride the rig-building upcycle.

Kepcorp: DnB NOR reiterate Hold with $10.50 TP. House expect firm jack-up orders to be priced in and reiterate view that order momentum is expected to ease slightly as Kep’s delivery slots up to 2013 continue to fill up from Co’s exercising their outstanding options.

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