In response to Transurban Group's 1Q traffic and revenue update, Morgan Stanley anticipates a modest positive reaction on the sharemarket.
Compared to the previous corresponding period, gross average daily traffic (ADT) rose by 3%, while the company's proportional ADT was up by 1.4%.
Management re-affirmed FY24 distribution guidance of 62cps.
Target $14.28. Equal Weight. Industry View: Cautious.
Sector: Transportation.
Target price is $14.28.Current Price is $12.05. Difference: $2.23 - (brackets indicate current price is over target). If TCL meets the Morgan Stanley target it will return approximately 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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