Barrenjoey upgrades revenue estimates, PT on Australia's Aurizon

Aurizon Holdings

15/08/2023 01:46

** Analysts at Barrenjoey raise PT on Australian rail
freight operator Aurizon Holdings  AZJ.AX  to A$3.90/share from
A$3.80/share 
    ** Shares currently up 0.7%
    ** Upgrades FY24 revenue estimates to A$4.00 billion  ($2.59
billion) from A$3.85 bln expected earlier
    ** AZJ on Monday posted annual revenue of A$3.51 billion
($2.28 billion), compared with A$3.08 billion a year earlier 
    ** Brokerage says revenue and PT upgrade on increasing
benefits from current inflationary situation
    ** Barrenjoey says the 9% EBITDA miss at the coal business
was a surprise, adding that company is now investing in non-coal
operations
    ** Six of 16 analysts tracking the stock rate it "buy" or
higher, 8 "hold" and 2 "sell"; their median PT is A$3.90 –
Refinitiv data
    ** Stock had fallen 3.8% this year as of last close 


($1 = 1.5413 Australian dollars)


($1 = 1.5418 Australian dollars)

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