Morgan Stanley anticipates a modest positive reaction to Atlas Arteria's 4Q traffic and revenue update.
Traffic rose by 3% on the previous corresponding period for the APPR motorway, the company's largest asset, compared to the broker's 2% forecast.
The analysts' expect demonstrations by farmers, resulting in multiple motorway blockades in France, will offset a solid ski season, and result in a tougher start for APPR in 2024.
Equal-weight rating. Target $6.66. Industry View: Cautious.
FY23 results are due on February 29.
Sector: Transportation.
Target price is $6.18.Current Price is $5.47. Difference: $0.71 - (brackets indicate current price is over target). If ALX meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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