Following Transurban Group's September quarter traffic update, Morgan Stanley notes proportional average daily traffic was a -2% miss versus expectations The broker overestimated Melbourne traffic though notes truck numbers across Australia were favourable.
Management provided evidence suggesting to the analyst an encouraging recovery in early October. The Equal-weight rating and $14.28 target price are maintained. Industry View: Cautious.
Target price is $14.28.Current Price is $13.62. Difference: $0.66 - (brackets indicate current price is over target). If TCL meets the Morgan Stanley target it will return approximately 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
© 2021 Acquisdata Pty Ltd., source FN Arena