Migme Limited

( ASX:MIG ) - Media & Entertainment


Austock Still Buying MIG After Asset Tour

Since the onset of the credit crisis last year the "Macquarie model" has come under question as to its sustainability when economic and market conditions are far less favourable and the market’s scepticism has filtered through to not only the share prices of Macquarie and its satellites but that of most infrastructure stocks on the market.

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Analyst Views

MIG – RBS Australia rates the stock as Buy

The March quarter traffic figures highlight the impact of the economic downturn on traffic in the northern hemisphere, notes the broker. However, RBS is also quick to point out that traffic growth remains robust in Australia, at least for now. RBS also notes the impact on revenue has been relatively muted to date, as traffic declines have been offset by toll increases and believes this dynamic should be able to be maintained. As such, RBS sees the recent selling as being overdone and maintains its Buy believing the company is well placed to ride out the storm.

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