Transurban Tracking In Line With Expectations; No Change to FVE
Wide-moat Transurban announced robust traffic numbers for the March quarter of 2018, placing the toll-road operator on track to meet our fiscal 2018 forecast. We maintain our earnings forecasts and our AUD 11.50 fair value estimate. We forecast high-single-digit top-line growth over the next five years on organic growth, the recent Montreal acquisition, and completion of upgrades and new roads. At the current market price of AUD 11.27, the stock is fairly valued. Solid growth was recorded in Syd...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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