[Dow Jones] STOCK CALL: Merrill Lynch issues upbeat note on Transurban (TCL.AU), keeps Buy rating on stock, with A$7.60 price objective. Reshapes traffic expectations for CityLink given traffic works that will take place over coming years but says stock still represents good value. "With the potential for outperformance on the M2 when Lane Cove Tunnel opens, the satisfactory ramp up of the M7 and a strong yield, TCL remains our No. 1 pick in the sector," broker says. Says risks include any potential purchase of soon to be listed Sydney Roads Group, traffic underperformance due to roadworks and local interest rates. Shares up 5 cents at A$7.07. (LMF)
TCL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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