“To keep gearing in check, KIT has successfully completed a $400 million fund raise in 2024, following a $300 million equity fund raising exercise in FY2023, which demonstrates investor confidence. Meanwhile, it retains the flexibility to divest assets like Philippine Coastal to lock in gains and redeploy capital as well,” says Sarkar.
DBS Group Research analyst Suvro Sarkar is keeping “buy” on Keppel Infrastructure Trust (SGX:A7RU
) (KIT) with a target price of 57 cent citing dividend certainty and inorganic growth push.
After a brief hiatus in 2023, KIT is back on the M&A bandwagon, says Sarkar. In early 2024, KIT acquired Ventura Motors for A$600 million. In November, it closed the acquisition of Marina East desalination plant.
