TRANSURBAN GROUP ((TCL)) Upgrade to Buy from Neutral by Citi .B/H/S: 5/2/0
Citi analysts seem okay with the traffic numbers released yesterday. More importantly, they believe recent share price weakness on adjustments in global bond yields has gone too far.
Citi analsts see the stock as well supported by growth opportunities plus earnings upside risk in the medium term from higher bond yields. On top of this they also consider potential future blue sky opportunities from road pricing reform, and -further out- the benefits from autonomous vehicles.
Upgrade to Buy from Neutral. Target price remains $11.75.
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