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Hutchison Port Holdings Trust Likely to Benefit From Increased Shipping Activity -- Market Talk

Dow Jones Newswires ·  Oct 1, 2021 04:56

DJ Hutchison Port Holdings Trust Likely to Benefit From Increased Shipping Activity -- Market Talk

0853 GMT - Hutchison Port Holdings Trust is set to benefit from a rise in shipping activity, as a strong performance by its Yantian and Kwai Tsing ports should support earnings, DBS Research says. Throughput at the two facilities are stronger than expected, with year-to-date volumes at Yantian rising 9.0% on year and up 3.4% at Kwai Tsing. The bank raises its 2021 earnings forecast by 33% and for 2022 earnings by 10% on stronger-than-expected 1H results, expecting "a sustained period of recovery" ahead. DBS keeps a buy rating and revises up the target price to $0.33 from $0.32. Shares are 2.1% lower at $0.24. (yongchang.chin@wsj.com)

(END) Dow Jones Newswires

October 01, 2021 04:53 ET (08:53 GMT)

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