mogan upgrade from 3.75 to 4.10 read

1353 [Dow Jones] STOCK CALL: JP Morgan lifts target price for Macquarie Airports (MAP.AU) to A$4.10 from A$3.75 after record monthly traffic and debt refinancing at Sydney Airport. Says December traffic at both Sydney +7.2% and Rome +7% were strong, Brussels +3.4% was as expected, while Copenhagen +1.4%, Bristol +2% and Birmingham +1.7% all disappointing with poor weather in U.K. a factor. Suggests MAP may return shareholders up to 23 cents/share from Birmingham sale up to A$235 million, and potential Brussels refinancing surplus of A$150 million. Maintains Outperform on MAP; latest up 1 cent at A$3.61. (WEL)