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Blog

Video: Transurban 1H18 results

Nathan Lead

  • Transurban (TCL) delivered double digit earnings and cash flow growth in 1H18, broadly in line with our forecast at the group level although compositionally different. 
  • FY18 DPS guidance was unchanged at 56cps (+8.7%), and we expect TCL's portfolio to deliver ~7% pa DPS growth over subsequent years. 
  • Our 12 month target price has reduced 8 cps to $12.54ps, due to minor forecast changes. ADD retained, given ~16% estimated TSR at today's closing price.

Video

My overview of the results to the Morgans network yesterday:

 

More information

Morgans clients can login to view my full research note on Transurban's first half results: 'Transurban Group, Delivering Growth'. Alternatively, please contact your nearest Morgans office for access.

Disclaimer(s): Analyst owns shares.

The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.