Land Adds To MAP Valuation - Smith Barney
Wednesday, May 04, 2005 11:03:16 PM ET
Dow Jones Newswires
1249 [Dow Jones] STOCK CALL: Smith Barney retains Buy recommendation on MAP (MAP.AU), saying airports are becoming more shopping centers, business precincts and car parks rather than just transportation hubs and broker's base case valuation A$3.45 excludes vast tracts of land awaiting development at all its airports. If include land bank at Sydney, Rome, Brussels and U.K. airports, "blue sky" valuation of MAP rises by A$1.40 a share to A$4.85. Broker says MAP remains preferred exposure in sector. MAP last down 1 cent at A$3.42. (MCM)
Contact us in Sydney. 61 2 8235 2950;
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(END) Dow Jones Newswires
May 03, 2005 22:49 ET (02:49 GMT)
land adds to map valuation
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