Morgans now expects a strong lift in dividends paid by Atlas Arteria, starting in the 2H, after good 1Q traffic numbers for the APRR motorway network in France.
Nonetheless, the broker is surprised by the recent share price strength given rising interest rates and an adverse exchange rate move.
The Hold rating and $6.41 price target are maintained.
Sector: Transportation.
Target price is $6.41.Current Price is $6.81. Difference: ($0.40) – (brackets indicate current price is over target). If ALX meets the Morgans target it will return approximately -6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
