Oppenheimer maintains Macquarie Infrastructure Outperform, $28 PT (MIC)
Oppenheimer maintained its Macquarie Infrastructure (NYSE: MIC) Outperform rating and $28 price target in a research report published today.
In the report, Oppenheimer states, "Consistent with our bullish thesis, 4Q10 proportionately combined FCF/share of
$0.61, bested our/Street estimates of $0.57/$0.57. The beat was driven by IMTT, slightly offset by higher-than-expected cap-ex at TGC and Atlantic Aviation. Cash dividend ($0.20 quarterly) to be resumed in 1Q11. We initiate 2012E FCF/share of $3.05."
Shares of Macquarie Infrastructure were trading at $24.07 at the time of posting, up 0.46% from Wednesday's market close.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.