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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.