ASL Ltd: Tracking ahead of expectations

By Tom Sartor

30 July 2020, 10:30 AM

The lack of 1H21 guidance at the AGM was a surprise, however the 1Q trading update does imply ASL (ASX:ALQ) is tracking comfortably ahead of expectations. Our blended valuation is based on FY22 forecasts and adjusts.

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Aurizon Holdings: Fine tuning in advance of FY20 results

By Nathan Lead

14 July 2020, 9:44 AM

Aurizon Holdings (ASX:AZJ) will report its FY20 result on 10 August. As a result of Q4 volume weakness, we expect EBIT to be at the bottom end of the $880-930m guidance range. The forecast dividend yield of 5.9% (~70% franked, 100% earnings payout) continues to be appealing, as does the relative revenue resilience, investment grade balance sheet, and potential for further buybacks.

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Sector Update: Industrials

By Nathan Lead

25 June 2020, 4:44 PM

In this update, I comment on Sydney Airport (ASX:SYD) and my perspective on their future outlook. Additionally, I talk about Transurban (ASX:TCL) and what their latest distribution and traffic update means for investors.

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