Boston, MA 11/05/2013 (wallstreetpr) – Transurban Group (ASX:TCL) shares have maintained their buy rating in the latest statement issued by equities rating agency UBS AG. In a note released to investors the analysts at the agency have said that the company’s shares were worth buying and the company had some interesting possibilities.
While there is no consensus among analysts on the ratings some others have given it a hold rating. In their release note released to investors in August analysts at Deutsche Bank had given the share a buy rating and a target price of $5.99.
In other news the company is waiting for government approval for development of a toll road where it will own 90 percent of the project.
The new project will involve the building of a tunnel at Sydney North. There is expectation that this will earn the company a lot of profits. Though it must be said that the company would earn the profit only when it gets the approval to build the tunnel from the government
The approval sought nu the company from the government is for an 8 kilometer long road that will connect West Pennant Hills toll road to Pacific Motorway near Wahroonga. The new road is called the F3-M2 link and is the biggest Australian tunnel. It is thought that the new tunnel will change the face of Sydney north and the change will bring in more money for its investors.
If we look at the rivals of the company, we can see that compared to them the company is only concentrating on building of toll roads.
If we look at the latest project it seems the company prioritizes reducing traffic snarls as it is waiting for a long time for government approval for long, it may bring down the night travel charges or form a joint venture with another government/private company to get the government approval.
