Stock Name: HPH Trust USD
Company Name: HUTCHISON PORT HOLDINGS TRUST
Company Name: HUTCHISON PORT HOLDINGS TRUST
| Research House: Credit Suisse | Price Call: HOLD | Target Price: 0.74 |
SINGAPORE (Oct 28): Credit Suisse has downgraded Hutchison Port Holdings Trust to "neutral" from "overweight" and cut its price target to 74 US cents from 80 US cents, saying payouts to investors will likely fall after this year.
The new price target implies a 2015 distribution yield of 7%.
"This is what we believe it should yield relative to other SGX-listed business trusts given earnings growth and the near-term reliance on debt to fund 2014 payouts," Credit Suisse analyst Timothy Ross said in a note today.
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