No Major Revelations at Transurban’s Investor Day
Transurban Group’s investor day reiterated its focus on successfully delivering its large development pipeline and delved into some of the potential longer-term growth opportunities. We continue to believe it is a high-quality company, warranting a wide economic moat rating. But the recent rally in bond prices has pushed its security price above our unchanged AUD 11.50 fair value estimate. As such, we believe the stock is moderately overvalued. Fiscal 2019 distribution yield is just 4.3%, essent...Transurban Group is engaged in the development, financing, operation and maintenance of toll road networks as well as management of the associated customer and client relationships. Co. manages and develops urban toll road networks in Australia and the U.S. Co. owns concession assets across four key market segments: Victoria, New South Wales, Queensland and the Greater Washington Area.
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