Analyst Grant Swanepoel has lifted his investment recommendation on Auckland International Airport shares to a "buy" because of the airport's long-term prospects.
The head of institutional research at Craigs Investment Partners, Mr Swanepoel said he's now taking a longer-term view of the company, particularly following the airport's recent investor day in which it outlined development plans stretching out to 2044.
He has lifted his valuation of Auckland airport company shares by 51 cents to $3.60 each.
Mr Swanepoel said raising his expectations of passenger growth through the airport was an important factor in upgrading his recommendation.
He said work that the airport has done with Tourism New Zealand and tourism in countries like China makes him confident that there will be passenger growth above what's occurred in the past.
Mr Swanepoel said the airport's projections through to 2044 implies passenger growth of 3.7 - 4%.
