Macquarie Group has reiterated guidance for FY14 on the back of a 10% outperformance against the ASX200 over the past month

Macquarie Group has reiterated guidance for FY14 on the back of a 10% outperformance against the ASX200 over the past month. In a note to clients Richard Coppleson of Goldman Sachs describes MQG as a stock that you need to own. Given the recent rally there is the risk that the trade is becoming crowded and Coppleson notes that the current guidance may not have hit market expectations and offers a short term buying opportunity. With improved activity in capital markets and a building IPO pipeline there are a number of reason to like the FY14 outlook. Goldman retains a strong buy on MQG.