Toll Reform May Weigh on Transurban Despite Progress -- Market Talk

Dow Jones12-16

0347 GMT - Incremental progress on toll reform in Australia's New South Wales state is positive for Transurban but uncertainty could weigh on its shares until all issues are resolved, Jarden analysts write in a note. They see the draft in-principle agreement provided to the road operator and its partners as a sign of genuine progress, telling clients that there don't seem to be any sticking points from the company's side. They say it's good that the NSW government has committed to respecting existing contracts, but investors may stay cautious for now. Jarden keeps a neutral rating and A$12.30 target price on the stock, which is up 1.4% at A$12.905. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

December 15, 2024 22:47 ET (03:47 GMT)

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