Sydney Airport: Regulatory pressures ease By Nathan Lead 23 October 2019, 5:24 PM The Productivity Commission's final report was benign for SYD, if not helpful. We view the event as de-risking the investment case, and should contribute to the gap closing between the share price and our 12 month target price. Read more...
Transurban Group: Softer Australian traffic growth By Nathan Lead 14 October 2019, 1:10 PM We have moderated forecast EBITDA by 1-2% to reflect the softer traffic growth on key Australian roads in the September quarter. Additionally we have revised the corporate tax modelling, lifting our 12 month price target. We retain a HOLD rating. Read more...
Transurban Group: taking the M5 to 100% By Nathan Lead 09 August 2019, 5:49 PM TCL could be considered to be within the bounds of fair value Read more...
Sydney Airport: Valuation support in a lower-for-longer world By Nathan Lead 22 July 2019, 4:54 PM Benefits from lower interest rates on new and unhedged debt Read more...
Bingo Industries: 2019 Investor Day By Nathan Lead 28 June 2019, 9:54 AM We grow cautiously more bullish on the upside from the Queensland landfill levy Read more...
AusNet Services: Taking the pedal off the metal By Nathan Lead 13 March 2019, 2:32 PM Given the compression in total potential return we downgrade our recommendation from Add to Hold Read more...
Aurizon Holdings: 1H19 result By Nathan Lead 12 February 2019, 12:45 PM Revenue recognition affected 1H19 Read more...
Reporting season preview: Infrastructure & Utilities By Nathan Lead 05 February 2019, 4:25 PM I discussed the Infrastructure & Utilities sectors with the Morgans network ahead of reporting season, including my key stock picks leading into the results. Read more...
APA Group: Knocked out in the prelims By Nathan Lead 09 November 2018, 12:26 PM The Treasurer's preliminary view seems to squash CKI's takeover bid for APA. Read more...
Cleanaway Waste Management: Don't waste this opportunity By Nathan Lead 25 October 2018, 8:30 AM The recent share price decline provides a buying opportunity. We upgrade from Hold to Add. Read more...