** Shares of New Zealand's Auckland International Airport AIA.NZ rise as much as 2% to NZ$7.55, highest since Oct. 22

** Analysts at Jefferies say the airport operator is well placed in the current improving macroeconomic environment for gathering earnings momentum

** With the RBNZ cutting rates, airlines' scheduled capacity outlook being stable, and balance sheet repaired, the business is seen remaining well-positioned - Jefferies

** Brokerage maintains PT at NZ$8.1, retains "hold" rating on stock

** Stock had fallen 15.9% this year, as of last close

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))