0033 GMT - Transurban's recent traffic data was stronger than expected across the Australian toll-road operator's markets, Macquarie analysts write in a note. They tell clients that strength in traffic adds marginally to near-term earnings prospects, and could signal that the impact of both roadworks and the country's soft economy are subsiding. Macquarie raises its earnings forecasts for fiscal 2025 and fiscal 2026 by 2.9% and 4.9%, respectively, and says that toll reform in Australia's NSW state is the next potential catalyst for the stock. Macquarie lifts its target price by 2.6% to A$13.00 and keeps a neutral rating. Shares are up 0.35% at A$12.935. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 10, 2024 19:33 ET (00:33 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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