Atlas Arteria on target to hit our forecasts after solid quarter, says Morningstar

Atlas Arteria

20/10/2024 21:50

** Analysts at Morningstar say Australia's Atlas Arteria
 ALX.AX  remains on track to hit its FY forecasts after a solid
quarter
    ** Says the toll road operator's shares look slightly
undervalued at current prices, keeps fair value estimate of
A$5.40
    ** Brokerage says co's Dulles Greenway toll road should see
a growth averaging 4% per annum for the next few years which
would allow it to return to positive free cash flow
    ** ALX ended Friday at A$4.97
    ** Stock has fallen 14% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Sandra
Maler)
 ((Rishav.Chatterjee@thomsonreuters.com;))