DBS raised their forecasted DPU for FY20 to 9 HK cents (1.5 cents), up from 8 HK cents previously, after factoring in lower finance costs and government subsidies, as well as expectations of a stronger second half performance as many countries start to relax social distancing measures.
DBS Group Research has upgraded its rating for Hutchinson Port Holdings Trust (HPH Trust) to “buy” from “hold” with a target price of 14 US cents (19.1 cents), up from the previous target price of 12 US cents.
Analyst Paul Yong said HPH Trust’s current yield of 11.3% is an attractive level to enter, along with an improving distribution per unit (DPU) outlook as a catalyst for share price to re-rate in the longer term.
