Sydney Airport Holdings Pty Ltd (SYD)’s principal activity is investing in airport assets. SYD consists of Sydney Airport Limited (SAL) and Sydney Airport Trust 1 (SAT1).
“Revenues have been badly affected by COVID-19-related government travel restrictions,” said Raymond.
“For the short term, SYD is no longer a yield stock (we do not expect it to pay a distribution until 2022/23).
“It is a capital growth play.
“SYD remains a premier airport asset whose earnings and thus share price we think will rebound with a recovery in passengers (pax) particularly the far more valuable international pax,” Raymond said.
Sydney Airport (SYD)
Source: Google
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