DBS Group Research analyst Suvro Sarkar has maintained “buy” on Keppel Infrastructure Trust (KIT) with a higher target price of 61 cents from 58 cents previously due to better-than-expected cash flows from Ixom, Blackstone’s Australian chemicals business formerly owned by Orica.

KIT completed its acquisition of Ixom on Feb 19, 2019. The acquisition was said to augment KIT’s portfolio in the distribution and network segment.

For the FY2020 ended December, KIT reported distribution per unit (DPU) of 3.72 cents and 4QFY2020 DPU of 1.86 cents, unchanged from a year ago.

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