Late Run of Green Lights at the ACCC
Was it clean-up day at the ACCC yesterday or a belated Black Friday sale, with three corporate deals given the green light after hanging round for a while?
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Sydney Airport
Our vision is to deliver a world-class airport experience and foster the growth of Sydney Airport for the benefit of Sydney, NSW and Australia.
Our airport is one of Australia’s most important pieces of infrastructure. It is our international gateway and an essential part of our transport network, connecting to more than 90 destinations around the world.
We also make a significant contribution to our local and national economies, generating $38 billion in economic activity a year. This contribution is equivalent to 6.8% of the NSW economy and translates into more than 338,500 for the people of Sydney.
Sydney Airport is conveniently located only 8 kilometres from the city centre and less than 10 kilometres from major tourist attractions. The convenience of our location has benefits for both business and tourism and is a major strength that will help to underpin Sydney’s future prosperity.
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News
Takeover Talk: SYD, SXY, API
Three deals advanced to the closing rounds of their respective games yesterday, involving Sydney Airport, Senex Energy and Australian Pharmaceutical Industries.
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Takeoffs and Bumpy Landings in the Local Airspace
Plenty of action in the travel sector yesterday, as the ACCC put the kibosh on a proposed alliance between QAN and Japan Air, and Sydney Airport finally relented to the ongoing bid for the company.
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Sydney Airport Knocks Back Increased Bid
Sydney Airport has again rejected overtures from a group of local and offshore superannuation investors, despite their having raised the non-binding bid from $8.25 to $8.45 a share.
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Sydney Airport Deal Takes Flight
Not too many people are boarding their aircraft through Sydney Airport at the moment, nevertheless the operator of the facility has received a juicy offer for the right to run the business.
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Analyst Views
SYD – Credit Suisse rates the stock as Neutral
The broker raises the target to $8.75 from $8.00. Neutral retained.
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SYD – Morgans rates the stock as Hold
Morgans' Hold rating and $8.25 target are maintained.
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SYD – Morgans rates the stock as Add
Morgans lifts the target to $7.03 from $6.86 on rising passenger numbers in March. The Add rating is maintained.
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SYD – Credit Suisse rates the stock as Underperform
Underperform retained. Target is raised to $5.30 from $5.00.
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SYD – UBS rates the stock as Neutral
Sydney Airport’s 2020 result was hit by one-offs with operating income an estimated $130m in the second half versus last year's $687m. UBS to stick to Neutral rating with the target falling to $6 from $6.60.
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