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The unit price of this business trust is so low you might as well paint a target on it

Gwyneth Yeo
Gwyneth Yeo12/8/2016 06:14 PM GMT+08  • 2 min read
The unit price of this business trust is so low you might as well paint a target on it
SINGAPORE (Dec 8): DBS Group Research is maintaining its “buy” recommendation for Hutchison Port Holdings Trust (HPHT) with a target price of 48 US cents, even as the trust’s unit price fell to historic lows.
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SINGAPORE (Dec 8): DBS Group Research is maintaining its “buy” recommendation for Hutchison Port Holdings Trust (HPHT) with a target price of 48 US cents, even as the trust’s unit price fell to historic lows.

In a Thursday note, DBS analyst Paul Yong said the stock appears to be “oversold at the current price level” trading at 0.6 times its book value and offering a yield of over 8% for FY17.

In fact, Yong believes the group could be “attractive as an acquisition target given its strategic assets” at these levels, and added that HPHT’s major shareholder CK Hutchison is “no stranger to privatisations”.

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