Citi sees traffic jams turning into growth lane for Australia's Transurban
26/11/2025 18:55
** Citi says increasing road congestion could boost traffic growth for toll-road operator Transurban TCL.AX, citing TomTom data showing congestion levels have risen across markets in 2025 ** Brokerage expects this trend to support near-term volumes and retains its 'Buy' rating on TCL ** While the stock trades at about 23x Enterprise Value/EBITDA, above its long-term average, Citi sees improving traffic outlook, cost discipline and potential new project wins as catalysts for upside ** Location-based services provider TomTom’s congestion data, which compares the lowest travel times with free-flowing traffic, offers a proxy for demand as heavier jams on regular routes boost the appeal of paid lanes - Citi ** Stock up 12.7% YTD as of last close (Reporting by Kumar Tanishk in Bengaluru) ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))