Macquarie Bank (MBL) Stock Recommendation

Citigroup Investment Research (CIR) have maintained their Buy rating for the investment bank Macquarie Bank (MBL) stock with a share price target of $86. CIR had commented that MBL had presented a rather bullish outlook for its Investment Banking Group at its operational briefing. The stock analysts have commented that, "the presentation lacked the one element required to jolt the stock from its recent doldrums - an update on seed asset sale timing." Meanwhile, UBS has a Buy 2 stock recommendation for Macquarie bank with a share price target of $82.50. UBS have noted the following: "Whilst MBL acknowledged underperformance of vehicles, they see int. rates and resources sector funds flows as the culprits, with early signs of a turn. Despite this, they have seen no slowdown in new equity raised ($4.9b YTD versus $5.6b last year). They are increasingly tapping into unlisted markets, offsetting listed mkt pressure. 07 numbers not predicated on improving performance fees." And observed the following positives: "(1) Had a strong beginning to the year; (2) approx. $800m out of $1.5b in Bal Sheet asset positions are subject to contract (term sheets) with respect to disposal; (3) value expectations on these assets have not changed."

Macquarie Bank Limited is listed on the Australian Stock Exchange (ASX) under stock code MBL. You can view their investor website here. MBL was listed on the ASX on 29 July, 1996. Macquarie Bank is involved in investment Banking, Banking and Financial Services. Find out the meaning of the recommendations in this primer. Browse for other broker recommendations. Check your charts and good luck with your share trading!