Transurban Gets a Big Tick for Avoiding Radical Toll Reform
Dow Jones
Aug 04
0121 GMT - Transurban gets "a big tick" from UBS analysts for avoiding radical reform to road tolls in Australia's most populous state. The analysts tell clients in a note that significant changes in New South Wales state could have materially reduced the ASX-listed toll-road operator's value. As it is, they hail the company's resolution of complex, multistakeholder negotiations and removal of a long-running overhang on the stock. They acknowledge some uncertainties over traffic impact, but don't think Transurban is unreasonable to suggest that the changes are neutral for valuation. UBS has a last-published neutral rating on the stock and a target price of 14.50 Australian dollars. Shares are up 0.1% at A$14.975.
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