It looks one of the best shares on the S&P/ ASX200 I(ASX: XJO) for dividend income, but according to the expert analysts at Goldman Sachs, today might not be the time to buy Sydney Airport Holdings Ltd (ASX: SYD) shares.
In a research note dated May 28, Goldmans offers up several reasons for its decision to downgrade the airport's shares from a 'buy' rating to a 'neutral' rating.
These include that for the year to date up to April 2019 domestic passenger numbers are down 1.8%, with the federal election also apparently causing a potential slowdown in travel plans. Overall, Goldmans also flags its view that the macro outlook for calendar year 2019 is also turning down compared to 2018.
As a result of updating its earnings per share forecasts, Goldmans now has a 12-month share price target on Sydney Airport of $7.35 per share, which is almost flat on today's exchange traded price of $7.33.
