0158 GMT - Dalrymple Bay Infrastructure is midway through an accelerated maintenance investment cycle in which it's able to make an appealing return on invested capital, says UBS analyst Andre Fromyhr. "Looking forward, we see an attractive step-up in growth that's higher than consensus and not fully priced in," he says. UBS initiates coverage of DBI--which owns the Dalrymple Bay coal export terminal in Australia--with a buy rating and A$5.75 target. Fromyhr notes the strong performance of DBI shares already over the past three years. That can be partly attributed to growth but mostly reflects a re-rating of the stock, he says. "Investors have built confidence in the resilience of earnings, accretion from investment opportunities, and greater free float/liquidity," says Fromyhr. Shares are up 0.3% at A$5.205. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 09, 2026 21:58 ET (01:58 GMT)
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