Highest-yielding large cap HPHT upgraded to 'buy' despite earnings disappointment

SINGAPORE (Apr 17): DBS Group Research is upgrading Hutchison Port Holdings Trust (HPHT) to “buy”, from “hold” previously, despite earnings disappointment as its Hong Kong operations continued to lag.

The disappointing run has continued into 1Q18, as HPHT’s earnings fell 12.9% to HK$145.4 million ($24.3 million) during the quarter, despite a 3.5% improvement in overall revenue to HK$2.7 billion.

See: Hutchison Port Holdings Trust's 1Q earnings fall 12.9% to $24.3 mil

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