0014 GMT - Qube Holdings' trading update emphasizes that debt management is its focus right now, says RBC Capital Markets. The owner of Patrick ports had gearing of 27.2% at the end of June. Gearing is expected to reach the middle of Qube's 30%-40% target range during FY 2025. Qube is targeting A$180 million-A$250 million of asset sales, with the bulk of proceeds coming in late FY 2025 and early FY 2026. "We also highlight the possibility of a Patrick Terminals transaction which adds another dynamic to Qube's leverage and earnings growth outlook for FY 2025," says analyst Owen Birrell. RBC has a sector-perform call on Qube and A$4.10/share price target. Qube is up 0.5% at A$3.83. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 10, 2024 19:15 ET (00:15 GMT)
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