Policy uncertainty unusually elevated for Aussie infrastructure firms, says MS

Auckland International Airport

03/09/2024 03:36

** Analysts at Morgan Stanley deduce that policy uncertainty
is unusually elevated for Australian infrastructure firms
    ** Prefers toll road-operator Atlas Arteria  ALX.AX  and New
Zealand's largest airport Auckland International  AIA.NZ  among
Aussie and New Zealand infrastructure companies
    ** Brokerage awaits for the French budget bill 2025 in late
September and will look for potential changes to the country's
infrastructure and corporate tax rates affecting ALX's
operations
    ** Morgan Stanley says Transurban Group  TCL.AX , another
major player in the toll-road business in Australia, should
focus on traffic growth in Brisbane and U.S. to offset the
construction disruptions in New South Wales
    ** Await outcomes of the NSW Toll Renegotiation, where NSW
toll road investors are seeing in principle agreement by the end
of 2024, says brokerage in respect of TCL's NSW operations
    ** Atlas Arteria currently up 0.9% while Transurban slips
0.3%
    ** NZ shares of Auckland Airport fall 0.5%

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