Transferring Coverage of Wide-Moat Auckland International Airport; Shares Fairly Valued
After transferring coverage to a new analyst, we’re reiterating our wide moat rating, medium uncertainty rating, and NZD 6.50 fair value estimate for Auckland International Airport. We’ve lowered our fair value estimate for the company’s Australian-listed shares to AUD 6.30 as we update the exchange rate used to calculate this valuation. Our operating assumptions are unchanged.We expect Auckland Airport's revenue to see compound growth of 7.9% per year during the next five years, and we antici...
Auckland International Airport provides airport facilities and supporting infrastructure in Auckland, New Zealand. Co. and its subsidiaries have three reportable segments: Aeronautical, which provides services that facilitate the movement of aircraft, passengers and cargo, and provides utility services that support the airport; Retail, which provides services to the retailers within the terminals and provides car parking facilities for airport staff, visitors and passengers; and Property, which is engaged in the rental of space on airport land outside the terminals including cargo buildings, hangars and stand-alone investment properties.
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