- a) Kep Corp has appreciated 7.6% from its intraday low $7.11 on 16 Jan to close $7.65 on 2 Feb, before its results. Suffice to say that some anticipation may have been priced into this stock in anticipation of its results.
- b) CLSA has a reduced call on Kep Corp citing a lack of price catalysts beyond the distribution in specie of Sembmarine shares post the sale of Kep Corp’s O&M business to Sembmarine.
Dear all,
Kep Corp has fallen $0.54 or 7% from $7.65 on 2 Feb to close $7.11 yesterday.
In this write-up, I will elaborate on my take on what has happened and whether there is any trading opportunity.
Why did Kep Corp plummet 7%?
Kep Corp announced 4QFY22 results on 2 Feb after market. Based on CGS-CIMB report, Kep Corp’s FY22 net profit of S$927m slightly beat estimates, at 102% consensus estimates. So what has caused the sharp drop in share price post results?
My guess is that Kep Corp probably drops because
