1023 [Dow Jones] STOCK CALL: Macquarie Equities ups Macquarie Airports (MAP.AU) to Outperform from Neutral. Valuation/price target A$4.14 from A$4.04. Follows expected completion of Sydney refinancing, which will release about A$900 million capital over 12 months vs expected A$750 million. Notes 20% discount to NPV and likely share buyback in 6-12 months, offsetting delay in significant capacity at key airports such as Sydney. MAP last up 3 cents at A$3.20. (DWR)
MAP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
