We'll be above there soon enough I'm sure... TCL is a cash cow....

We'll be above there soon enough I'm sure... TCL is a cash cow. I'm more eagerly awaiting the final terms of the M2-M1 link in Sydney..

Anyways, this was from ER, collected wisdom.

PS I also have a report from Charlie Aitken, but I can't post that, perhaps if you post your emails up we could arrange something. Cheers

Transurban (TCL)

Toll operator Transurban has beaten market expectations with its traffic and revenue data for the March quarter.
Proportional toll revenue, which the company believes more accurately reflects its performance, lifted 41.6 per cent to $387.6 million on the previous corresponding period (pcp). The pcp did not include Transurban’s recent acquisitions of Cross City Tunnel or Queensland Motorways.
On an underlying basis, proportional toll revenue grew 11.3 per cent to $304.8m – an impressive feat given tough macroeconomic conditions, analysts say.
The majority of analysts call Transurban a “buy” after the data release – though they are more divided than on previous occasions when Collected Wisdom wrote about the stock.
The last time Transurban was covered was in February this year, when analysts highlighted the company as the top pick in the transport infrastructure segment and said earnings appeared to be running ahead of estimates.
While that has been the case (and the stock has risen 6.5 per cent in the past two months), several analysts now believe Transurban’s current share price levels reflect full value. They highlight a softer traffic growth outlook on the Logan and Gateway Motorways in Brisbane and better infrastructure yield stocks elsewhere, such at Sydney Airport (SYD) and Duet Group (DUE).
But more analysts expect strong revenue growth throughout the second half of FY15, underpinned by double-digit organic growth from its Sydney M7 and M5 assets and from the recent acquisitions.
Transurban remains the preferred stock to other yield alternatives because of its funding potential and proven network strategy, one analyst says. This means the potential for higher dividends in the medium term is greater than for other yield stocks.

• Investors are generally advised to buy Transurban at current levels.