Aurizon’s Rail Network Agreement Likely to be Approved by Late 2019
Nothing material was announced at narrow-moat-rated Aurizon’s update and we maintain our AUD 4.00 per share fair value estimate. After the recent strong rally, the stock is overvalued.The update focused on the recently proposed agreement with coal mining customers on Aurizon’s Central Queensland rail network. If authorised, this agreement will supersede an unfavourable regulatory decision, known as UT5. We expect approval from the regulator in late 2019. Over 90% of customers have formally sup...
Aurizon Holdings is engaged in integrated heavy haul freight railway operation; rail transportation of coal from mine to port for export markets; bulk, general and containerised freight businesses; and rail services activities. Co. has three segments: Network, which is engaged in the provision of access to, and operation and management of, the Central Queensland Coal Network; Commercial & Marketing, which is engaged in the commercial negotiation of sales contracts and customer relationship management; as well as Operations, which is engaged in the national delivery of various coal, iron ore, bulk and intermodal haulage services, and in the maintenance of rollingstock fleet assets.
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