2332 GMT - Dalrymple Bay Infrastructure's A$1.07 billion refinancing lowers funding costs, prompting Macquarie to raise its target on the stock to A$5.33 from A$4.91. The bank reiterates an outperform rating. "We think DBI is a unique investment with dividend growth of 5% and a valuation EV/Ebitda multiple of 13x, which is below comparable port multiples," Macquarie analysts say in a note. The refinancing will boost cash flow by roughly A$15 million a year over the next five years, they estimate. The stock is down 0.2% at A$4.84. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 11, 2025 18:32 ET (23:32 GMT)
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