Transferring Coverage of Wide-Moat Transurban; Shares Remain Fairly Valued
After transferring coverage to a new analyst, we're maintaining our wide moat rating and medium uncertainty rating for Transurban, and have trimmed our DCF-based fair value estimate to AUD 10.50 per security from AUD 11.20 per security due to slightly lower near-term traffic growth estimates; our long-term forecasts are largely unchanged. At the current price, the security trades in line with our fair value estimate, appropriately incorporating the risk that prices of yield stocks such as Transu...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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