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Keyfield recorded a strong 171% increase in profit after tax, mainly driven by gains from the disposal of vessels. Following the stronger earnings, the company announced a first interim dividend of 1 sen per share, which will be paid on June 16
Keyfield is looking to extend its upside movement after staging a bullish breakout. The counter has jumped above the RM1.70 resistance on the back of high volume, showing that a bullish technical setup is in play. After the breakout, the stock is poised to test the next resistance at RM1.83, followed by the one at RM1.95
ESOS dilution always creates some selling pressure but the underlying business fundamentals for Keyfield remain solid. Once the dust settles and that supply is absorbed, the share price should regain its momentum back to the previous highs.
Keyfield is being re-rated to a PE of 12x, in line with other premium offshore service providers. Based on its projected FY2026 EPS of 16.5 sen, this implies a target price of RM1.98 (16.5 sen × 12x PE)
Keyfield is expected to maintain steady vessel utilisation, mainly supported by its expansion into the Middle East and the addition of more vessels to its fleet, according to Phillip Capital
Break RM1.70 means momentum damn strong now and the chart setup looks like going to fly higher. Can hold steady and watch if can sustain the run before deciding to take profit or add more
