This paper presents analytical expressions for the signal-to-interference ratio (SIR) and the spectral efficiency in macrocellular networks with massive MIMO conjugate beamforming, both with a uniform and a channel-dependent power allocation. These expressions, which apply to very general network geometries, are asymptotic in the strength of the shadowing. Through Monte-Carlo simulation, we verify their accuracy for relevant network topologies and shadowing strengths. Also, since the analysis does not include pilot contamination, we further gauge through Monte-Carlo simulation the deviation that this phenomenon causes with respect to our results, and hence the scope of the analysis.