From a previous -10.5%.
OCBC said that the YoY growth rates for Hong Kong Kwai Tsing monthly throughput have become increasingly positive, from -17.6% in Feb 2016 to +10.3% in Nov 2016, with overall throughput for Jan-Nov 2016 down 3.7% YoY.
"With this in mind, we have become slightly more positive in our assumptions for Hutchison Port Holdings Trust's HK operations, increasing the YoY throughput growth rate from -10.5% to -8.0% for FY16 and from 0.0% to +2.0% for FY17," OCBC said.
Here's more from OCBC:
On the other hand, with Yantian (YT) container throughput flat for the Jan-Nov 2016 period on a YoY basis, we are less bearish on HPHT’s YT operating outlook, and increase our growth rate from -4.5% to -3.0% for FY16.
We believe renewed US economic strength and the attendant effect of a US trade route recovery could be a catalyst for further upside in the stock, though higher interest rates are also a concern.
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