Boston, MA 10/24/2013 (wallstreetpr) – In their latest sentiment on the toll roads operator, Transurban Group (ASX:TCL), equities analysts at UBS AG have maintained their “buy” rating on the company’s stock. This rating is contained in a research note to investors published Thursday, October 24.
Several other analysts have weighed in with comments on the stock. At least seven analysts have recently echoed their views on the stock with four issuing a buy and three issuing a hold rating. On average, analysts have a buy consensus rating on the stock and they now want the toll roads operator to post $5.99 in price target.
In Wednesday’s trading, TCL performed dismally, sliding by 1.66% to settle at A$7.11. The stock traded within the daily average and TCL now has A$10.53 billion in market cap.
Engaged in development, operation and maintenance of toll roads, TCL has three business geographic segments which include: the U.S., Victoeia, Australia and New South Wales, Australia.
The company has been seeking government approval for a toll road development project in which it could own up to 50%. The A$2.65 billion is a new link tunnel for the Sydney north. This is considered a very lucrative deal that would turn in massive profits for the investors if the project gets the approval of the new NSW government.
The proposed link project is an eight kilometer tolled motorway connecting M2 toll road at West Pennant Hills to M1 Pacific Motorway at wahroonga.
The new proposed road will be called F3-M2 link and will be the longest link of its kind in Australia. As such, it is expected to be a transformative tunnel for the region of Sydney north. And this transformation will reflect hugely in the pockets of TCL investors if all goes well.
TCL has been doing just fine lately despite seemingly loose grip on the positive side of the share in the exchange market. In relation to its rivals, this toll road operator has lined up very ambitious projects that would translate into sweet win for its investors in the coming quarters.
