2358 GMT - Australian toll road operator Transurban would typically offer investors defensive exposure during an uncertain macro environment. But Citi contends that view is currently clouded by the New South Wales government's review of tolls in the state. "We believe the outcome of NSW toll review would be key in determining the trajectory of near-term free cash and dividend growth for Transurban," analyst Suraj Nebhani says. Anticipating some downside pressure as a result of the review, Citi retains a neutral call on Transurban following its 3Q traffic update. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 21, 2025 19:58 ET (23:58 GMT)
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