Transurban Group: FY20 result

About the author:

Nathan Lead
Author name:
By Nathan Lead
Job title:
Senior Analyst
Date posted:
17 August 2020, 10:30 AM
Sectors Covered:
Infrastructure, Utilities

  • With TCL facing full patronage risk on its assets, COVID-19 had a significant impact on its FY20 results.
  • We’re expecting a weaker year in FY21, before rapid recovery in FY22-23F.
  • We forecast a 36 cents per share DPS for FY21F, implying <3% cash yield. 12 month target price lifts slightly (login to view).
  • Given the stock looks to be fairly valued and with a low distribution yield, we retain a Hold rating.


View my analysis on the FY20 result below or access detailed research note by logging in. (Morgans clients only).

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