Share price has bounced back to around RM1.50, showing that market sentiment is turning positive. Investors are no longer just reacting to short-term oil price swings, but started recognizing Keyfield’s bigger transformation, including its move to a modern high-spec fleet, more stable OPEX-driven revenue, and new growth areas like cable-laying and offshore renewables

Keyfield International also posted a fresh bullish candlestick, closing above the RM1.45 resistance. With strong momentum and a move above the 21-day SMA, the counter may advance to RM1.55 and RM1.65, though a retreat below RM1.30 would invalidate the bullish setup.

In the interim, the vessel should remain profit-generative, suggesting manageable earnings pressure in the short term. Nevertheless, Kenanga maintain their forecast (which implies that the new vessel buy will only break even in FY26) and target price of RM1.57 pegged to nine times FY26F PER.