SINGAPORE (Nov 22): OCBC is maintaining its “hold” call on Hutchison Port Holdings Trust (HPH Trust) with an unchanged fair value estimate of 42 US cents (57 Singapore cents) while recommending investors enter the stock at 39 US cents and below.

In a Wednesday report, lead analyst Deborah Ong says she does not find the trust’s current unit prices particularly attractive, and instead sees a much clearer value proposition at the recommended price of 39 US cents and below.

“Those tracking industry data may be concerned with the 0.9% y-o-y decline recorded in industry-wide HK Kwai Tsing container throughput for Oct. We believe this figure is skewed by the data from Modern Terminals, and keep the positive throughput growth assumption we have for HPHT’s HK ports in FY17. For 10M17, HK Kwai Tsing container throughput remains up by +8.9% y-o-y,” says Ong... (Click here to read the full story.)