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Fly News Breaks for February 22, 2018
MIC
Feb 22, 2018 | 07:25 EDT
As reported earlier, SunTrust analyst Tristan Richardson downgraded Macquarie Infrastructure to Hold from Buy and lowered his price target to $60 from $75. Richardson cites the impact of unexpected view of a shortfall in the company's International-Matex Tank Terminal - IMTT - leading to a 31% reduction in its dividend payout. The analyst adds that while Macquarie Infrastructure's growth opportunities in Aviation and Power segments remain, they will not outweigh the utilization headwind in IMTT over the next year.
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