BUZZ-Australia's Transurban's rises; Morningstar lifts fair value on stronger cash flow** Toll road operator Transurban Group TCL.AX adds as much as 0.71% to A$14.16
** Morningstar raises fair value estimate by 5% to A$14, citing stronger free cash flows, higher development value
** Forecasts slight increase in free cash flow due to lower expectations for cash interest, tax payments
** Attributes ~A$0.80/security to TCL for potential future motorway expansion projects
** However, cuts co's medium-term EBITDA forecasts by 3%, saying new WestConnex road "cannibalising more traffic from other Sydney roads than we had expected"
** Stock rated "hold" on avg; median PT is A$14.2, per LSEG-compiled data
** YTD, TCL gains 5.1%
(Reporting by Ananya Verma in Bengaluru)
((ananya.verma@thomsonreuters.com;))
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