several analysts have upgraded their earnings

despite the related falls in global stock markets, the bank's specialist funds had raised an impressive $12.4 billion in the five months to August 31, while its broking operations had benefited from higher trading volumes.

Analysts from Credit Suisse were impressed.

"We view the briefing very positively, given a strong guidance statement reinforced by ongoing strong specialist fund new raisings," a team of analysts said in a research report.

Credit Suisse bumped up its full-year forecast for Macquarie by eight per cent to a net profit of $1.829 billion, and its 2009 forecast by five per cent to $1.973 billion.

UBS remained the most bullish on Macquarie, but news of a slowing M&A pipeline prompted it to keep its full-year forecast at $1.96 billion.

UBS raised its 2009 forecast by eight per cent to $2.316 billion and predicted strong demand for Macquarie's new European infrastructure fund, which UBS has tipped to raise more than four billion euros ($A6.60 billion).