Sydney Airport downgraded to Hold

The share price of Sydney Airport has risen 7% since Second Sydney Airport approved from 16 Apr 14 (Buy – $4.10) and 38% since we upgraded to Long Term Buy in The 'high yield & safe' mini-portfolio on 1 Feb 13 (Long Term Buy – $3.18). Sydney Airport is a stable and high-quality asset, benefiting from a steadily increasing number of international travellers. Management expects to increase distributions by 4% to 23.5 cents in 2014 for a forecast yield of 5.4% (unfranked) and we’re downgrading to HOLD.    Note: Our model Income and Growth portfolios own securities in Sydney Airport.

The share price of Sydney Airport has risen 7% since Second Sydney Airport approved from 16 Apr 14 (Buy – $4.10) and 38% since we upgraded to Long Term Buy in The 'high yield & safe' mini-portfolio on 1 Feb 13 (Long Term Buy – $3.18). Sydney Airport is a stable and high-quality asset, benefiting from a steadily increasing number of international travellers. Management expects to increase distributions by 4% to 23.5 cents in 2014 for a forecast yield of 5.4% (unfranked) and we’re downgrading to HOLD.   

Note: Our model Income and Growth portfolios own securities in Sydney Airport.

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