Sydney Airport continues to rise
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Sydney Airport's share price has increased 56% since we last upgraded the stock in Sydney Airport upgraded to Buy on 6 Dec 13 (Buy – $3.82) and is hovering around our previous Sell price of $6.00. Management expect dividends of 25.5 cents to be paid in 2015, for an unfranked forward yield of 4.3%. Overdue from the interim result, we're increasing our price guide as we're reluctant to let go of such a unique and high-quality asset: the Buy and Sell prices rise from $4.00 and $6.00, to $4.50 and $7.00 respectively.
We're also increasing our recommended maximum portfolio weighting from 7% to 8% (for details on how to interpret these figures, see Risk ratings and portfolio weightings). If, however, Sydney Airport already forms a large portion of your portfolio, you should consider taking some chips off the table as the share price rises – there are better opportunities on our Buy list.
The stock is up 5% since Sydney Airport: Interim result 2015 from 18 Aug 15 (Hold – $5.66) and we continue to recommend you HOLD.
Note: Our Income and Growth portfolios own securities in Sydney Airport.
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