ALX – Morgans rates the stock as Add

Noting that the APRR motorway network in France accounts for around 85% of Atlas Arteria’s share valuation, Morgans highlights the 4Q rebound for APPR traffic. The traffic the highest ever recorded by the APRR.

The Add rating is retained, on the assumption this recovery is sustained and the prospect of higher inflation. The analyst forecasts a  2022 toll escalation of 1.9%, based on a higher CPI in France.

The target price also rises  $6.91 from $6.78, largely due to to lower foreign exchange rates.

Sector: Transportation.


Target price is $6.91.Current Price is $6.40. Difference: $0.51 – (brackets indicate current price is over target). If ALX meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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