0054 GMT - Transurban may need to forgo some near-term free cashflow as a result of toll-road renegotiations with the government of Australia's NSW state, Morgan Stanley analyst Rob Koh reckons. He thinks that the most likely outcome is a protracted process, possibly without agreement. This would preserve the status quo. However, Koh concedes that an in-principle agreement on the government's aim of providing motorists with pricing relief remains possible. Koh tells clients in a note that the ASX-listed road operator is only likely to agree to changes that are neutral for asset value, but that there could be a short-term impact on cashflow. MS has an equal-weight rating and A$13.33 target price on the stock, which is up 0.5% at A$13.645. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 19:54 ET (00:54 GMT)
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