Macquarie Infrastructure (MIC) PT Raised to $38 at RBC Capital
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RBC Capital analyst TJ Schultz raised the price target on Macquarie Infrastructure (NYSE: MIC) to $38.00 (from $34.00) while maintaining a Sector Perform rating.
The analyst commented, "With MIC's pending sale of IMTT to an affiliate of Riverstone, MIC should trade on outlook for value that can be unlocked from the potential sale of Hawaii Gas and Atlantic Aviation. We expect MIC to sell both its Atlantic Aviation and Hawaii Gas segments as the Company believes this is the best way to return value to shareholders. Price target increases to $38 largely on higher outlook for Atlantic Avation cash flow and sale valuation."
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