Craigs commentary in their daily report
Infratil - A better balanced business - IFT has reported an FY10 EBITDA of NZ$363.3m, in
line with our estimates. It guided for a 10-20% increase in FY11 EBITDA, with growth
coming from Shell, better controls in the Australian asset and benefiting from a potentially
improving economy. We have reduced our target price to NZ$2.04 and keep our Buy rating.
BUY
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