SYD – Macquarie rates the stock as Underperform

By Broker News | More Articles by Broker News

December traffic data revealed international growth of 3.7% while domestic was down -2.6%. Macquarie notes the earnings outlook continues to be clouded by a softening of international capacity growth.

The outlook continues to look tough, with the broker suspecting 2019-20 growth in cash flow will slow to around 4-5%.

The broker maintains an Underperform rating and lowers the target to $6.64 from $6.67.

Sector: Transportation.

Target price is $6.64.Current Price is $6.43. Difference: $0.21 – (brackets indicate current price is over target). If SYD meets the Macquarie target it will return approximately 3% (excluding dividends, fees, and charges – negative figures indicate an expected loss).


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