Macquarie’s Strong Competitive Advantages Boost FVE to AUD 118 and Moat Rating to Narrow

Macquarie Group's Business Units' Interconnectivity Is Underappreciated

Macquarie on Track for a Solid Fiscal 2017 Result. AUD 89 FVE Unchanged

Macquarie Impresses Again with a Strong FY17 Profit

Macquarie Remains On Track for a Strong Fiscal 2018; AUD 93 FVE Unchanged

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Morningstar, Inc.

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Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/310" target="_blank" data-smartkarma-citation="entities:310:1">Macquarie Group Ltd (MQG AU)</a> remains poised to benefit from an expected upturn in economic growth and business conditions in key regions of North America, Europe, and Asia. Furthermore, Macquarie’s key North American business will benefit from the reduction in the U.S. corporate tax rate to 21% from 35%. We expect a positive update when the firm presents its operational briefing and third-quarter fiscal 2018 trading position on Feb. 6. A lower U.S. tax rate, improved global economic conditions…</p>

Macquarie Group Ltd (MQG AU) remains poised to benefit from an expected upturn in economic growth and business conditions in key regions of North America, Europe, and Asia. Furthermore, Macquarie’s key North American business will benefit from the reduction in the U.S. corporate tax rate to 21% from 35%. We expect a positive update when the firm presents its operational briefing and third-quarter fiscal 2018 trading position on Feb. 6. A lower U.S. tax rate, improved global economic conditions…

Macquarie Well Placed to Leverage Upturn in Global Growth; FVE Increased 15% to AUD 110