Citi, Morningstar hike PT on Australia's Macquarie post results

Citi upgrades Macquarie Group MQG.AX to "neutral" from "sell"; hikes PT to A$200 from A$177

MQG's 5.5% jump in FY profit in line with Citi estimate

Brokerage sees co benefitting from its balanced assets portfolio allocation, potential to improve its Return on Equity from reinvesting proceeds from the sale of its public markets business in North America and Europe

Morningstar raises MQG's Fair Value Estimate by 5% to A$195

Emphasises co's large and diverse asset pool, its track record to deliver "decent" returns on investments

Says PT hike accounts for cost savings in MQG's banking and financial services division

Stock rated "hold" on avg; median PT is A$205.50, per data compiled by LSEG

YTD, MQG down 8.3%