MQG – Citi rates as Upgrade to Neutral from Sell

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Macquarie is "firing on all cylinders", in Citi’s words, with Friday’s FY18 result boosted by lower taxes. Plenty of growth opportunities are on the horizon. So what’s not to like?

Citi had, until now, stoically stuck with a below the market price target accompanied by a Sell rating, but today is the day. Sell rating upgraded to Neutral while the price target makes a leap all the way to $110.15 from a miserly $79.50. It’s called vindication, or from a different angle: egg on the face.

The analysts have now joined the chorus of peers predicting guidance for the year ahead will prove conservative.

Sector: Diversified Financials.

Target price is $110.15.Current Price is $112.00. Difference: ($1.85) – (brackets indicate current price is over target). If MQG meets the Citi target it will return approximately -2% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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