U.S. the Star for Transurban in the 3Q
Transurban reported proportional traffic growth of 2.3% in the March quarter, with solid growth across most regions. We marginally upgrade a few of our short-term traffic growth assumptions and reduce our medium-term interest rate expectations following recent weakness in global bond yields. We estimate Transurban can issue 10-year debt at interest rates around 4% at present, and forecast rates normalise towards 5.8% over the longer term. Our fair value estimate increases 4% to AUD 11.50. At cur...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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