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Fly News Breaks for February 21, 2019
MIC
Feb 21, 2019 | 07:17 EDT
As previously reported, RBC Capital analyst TJ Schultz downgraded Macquarie Infrastructure to Sector Perform and lowered his price target to $41 from $45 after its Q4 earnings and FY19 guidance. The analyst notes that the outlook implies "further deterioration" of the company's International-Matex Tank Terminals business as its expected 2019 EBITDA run-rate of $253M implies a 12% annual decline and comes in 10% below his forecast. Schultz states that he previously expected 2019 to be a "year of stabilization", but now sees "recovery taking longer than expected" and recommends a neutral stance until visibility improves.
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