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Dri Healthcare Trust T.DHT.UN

Alternate Symbol(s):  DHTRF

DRI Healthcare Trust is an open-ended trust that provides unitholders with differentiated exposure to the anticipated growth in the global pharmaceuticals and biotechnology markets. Its business model is focused on managing and growing a diversified portfolio of pharmaceutical royalties to deliver attractive growth in cash royalty receipts over the long term. Geographically, it has a presence in the United States; European Union; Japan, and Rest of the world.


TSX:DHT.UN - Post by User

Comment by HermannHalleron Feb 04, 2024 5:29pm
163 Views
Post# 35862113

RE:roundup

RE:roundupFrom Scotia: 

DRI Healthcare Trust DHT.U-T: US$10.24 Target: US$24.00 Old: US$22.00 Rating: Sector Outperform

Out-year Revenue Runway Enhanced; Lifting Target to $24

OUR TAKE: Positive. Lifting the cap and expanding royalty interest in sales of pipeline drug, Omidria, is very favorable to our model and significantly mitigates royalty growth concerns beyond 2026 that the trust had been facing. Model adjustments result in new 3- and 8- year royalty revenue CAGR estimates to 19.6% and 7.4% (from 13.1% and 4.7%), respectively, the latter of which is consistent with newly updated guidance. Follow-up with management confirms that about $255M remains earmarked for deployment into 2025 in efforts to expand the royalty pipeline even further. Pending FY23 results later this month, our model adjustments result in a new unit price target of $24 (from $22), which we believe captures the underappreciated value of future cash flows.
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