Hutchison Port Holdings Trust cut to "hold" by Deutsche Bank

Stock Name: HPH Trust USD
Company Name: HUTCHISON PORT HOLDINGS TRUST

Research House: Deutsche Bank

Price Call: HOLD

Target Price: 0.70

SINGAPORE (Jan 28): Deutsche Bank has downgraded Hutchison Port Holdings Trust to "hold" from "buy" and cut its price target to 70 US cents from 74 US cents after lowering its 2015-2016 earnings estimates slightly to factor in expected higher operating costs and taxes.

While HPH Trust may be able to achieve its own distribution per unit target of 41 Hong Kong cents (7.15 Singapore cents) for 2014, its payout for this year could fall to 34 Hong Kong cents, according to Deutsche Bank analysts Sky Wong and Joe Liew.