Morgan Stanley anticipates a modest positive reaction to Atlas Arteria's 4Q traffic and revenue update.

Traffic rose by 3% on the previous corresponding period for the APPR motorway, the company's largest asset, compared to the broker's 2% forecast.

The analysts' expect demonstrations by farmers, resulting in multiple motorway blockades in France, will offset a solid ski season, and result in a tougher start for APPR in 2024.

Equal-weight rating. Target $6.66. Industry View: Cautious.

FY23 results are due on February 29.

Sector: Transportation.

Target price is $6.18.Current Price is $5.47. Difference: $0.71 - (brackets indicate current price is over target). If ALX meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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