Dalrymple Bay Infrastructure's Share-Price Weakness Prompts Upgrade
Dow Jones
Sep 02
0002 GMT - Coal port owner Dalrymple Bay Infrastructure is upgraded by Morgans to accumulate from hold, after its stock fell around 15% from the June high. Analyst Nathan Lead expects DBI to pay out a dividend of 28.6 Australian cents per share in FY27, in quarterly installments. Morgans also notes that DBI's Ebitda growth is underpinned by CPI-linked base charges and incremental earnings on commissioned NECAP projects--categorized as non-expansionary capital expenditure. "DBI may appeal to investors seeking dependable and growing yield and defensive elements for their portfolio," Morgans says. DBI ended Tuesday at A$5.13, below Morgans' A$5.47/share price target.
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