BUZZ-Australia's Dalrymple Bay Infrastructure hits record high as Citi raises PT

Citigroup Inc.
Designer Brands Inc. Class A

Citigroup Inc.

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Designer Brands Inc. Class A

DBI

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Updates

** Dalrymple Bay Infrastructure DBI.AX inches higher to a record A$5.69, extending its winning streak to a third straight session with a 3.6% gain

** Citi increases valuation for the infrastructure firm to A$6.10/share, retains "buy" rating

** DBI on Wednesday forecast 28.62 AU cps annual payout from July 1, up 8.5% vs last year, while holding Q1 distribution steady at 6.75 AU cps, in line with forecasts

** Brokerage Citi sees DBI as a good stock in the uncertain environment

** Six of eight analysts rate the stock "buy" or higher and two "hold"; median PT is A$5.63 – data compiled by LSEG

** Shares up 13.4% YTD


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