Australia's Atlas Arteria falls to 6-week low; Morningstar trims valuation after IFM deal

Atlas Arteria

09/07/2026 06:58

Updates
** Shares of Atlas Arteria Group ALX.AX fall 2.4% to A$4.91, their lowest level since May 29
** Morningstar cuts fair value estimate for toll operator by 8% to A$4.70 on completion of IFM Investors' takeover offer
** Says stock is now fairly valued, with no incorporation of any asset sales or special dividends, given the uncertainty of strategy post IFM gaining majority interest and retirement of current chairwoman
** Morningstar says Atlas became "increasingly erratic" in its efforts to avoid a takeover
** Adds, toll road acquisitions are unlikely to add value unless they are well-timed or have significant synergies with existing assets
** Atlas Arteria up 0.6% YTD, including moves in current session

(Reporting by Jasmeen Ara Shaikh and Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))