2342 GMT - Dalrymple Bay Infrastructure is a quality business. But with its dividend yield at 5%, Jefferies says DBI's share price of A$5.65 looks fully valued. Jefferies downgrades DBI to hold, from buy, while lifting its price target by 5.2% to A$5.51/share. Analyst Anthony Moulder spotlights the potential purchase of the nearby HPCT coal terminal in Queensland. "While we see the acquisition of HPCT is an attractive option at the right internal rate of return, there is no certainty that BMA are near-term sellers of their key export terminal," Jefferies says. "That said, we do believe the attractiveness of HPCT to DBI is lower once the 8X project is committed to." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 12, 2026 19:42 ET (23:42 GMT)
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