SINGAPORE (Apr 22): DBS Group Research has maintained Keppel Infrastructure Trust (KIT)’s “buy” rating with a lower target price of 54 cents, from 58 cents previously.

This comes on the back of KIT's unchanged 1Q2020 DPU of 0.93 cents from its financial results released Apr 20.

Despite the circumstances due to Covid-19 that led to KIT’s group revenue dropping 4% q-o-q to $406 million, the Trust managed to declare a steady distribution per unit (DPU) in 1Q2020, “in line with previous quarters”, said the report. This was due to the Trust’s sufficient cash buffer, as well as its other assets – including the Keppel Merlimau Cogen Plant (KMC) power plant – performing to full capacity.

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