This was from Citigroup. I can email you full report if you give...

This was from Citigroup. I can email you full report if you give m eyour email adress.

Company Feb 2 2006
Macquarie Bank Ltd Other MBL reports
Code Market Cap $M Current Recommendation Current Price
MBL 14,252.36 1H (Buy, High Risk) 61.50


Earnings Change
Patience will be rewarded
† The market's lack of tolerance for negative revisions to estimates (stock price down 7%) has presented a good entry point for this stock.
† Deal timing and an absence of (lower quality) performance fee revenues see us drop FY06 estimates by 7% but FY07 and FY08 estimates nudged up by 1% accordingly.

† The key fundamental signs of momentum in headcount (particularly international) and AuM growth continue at an impressive clip.

† Capital repatriation concerns should be alleviated with $1.8bn in asset sales slated by 1HO7.

† We maintain our BUY recommendation, with our target price lifted to $82.80 (prev. $82.60).