0443 GMT - Atlas Arteria was seen as a potential takeover target by Citi analyst Suraj Nebhani even before indications that a suitor could be positioning for a tilt at the toll-road operator. Nebhani tells clients in a note that he expects renewed speculation about a potential takeover following an Australian newspaper report that IFM Investors has increased its stake in Atlas Arteria to 32%. He points out that IFM has bid for Atlas Arteria in the past and sees interests as a positive for the ASX-listed stock. Citi has a buy rating and a A$5.22 target price on the stock, which is down 0.2% at A$5.21. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 19, 2025 00:43 ET (04:43 GMT)
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