Citi upgrades Transurban Group on possible end to Middle-East conflict
BUZZ-Citi upgrades Transurban Group on possible end to Middle-East conflict ** Citi upgrades Australia's Transurban Group TCL.AX to "neutral" from "downgrade" with a target price of A$15.8
** Brokerage firm believes market may shift away from defensive names with the potential end of Middle-East conflict
** Forecasts strong medium-term growth for TCL
** Says the company, which has over 90% of its revenue linked to CPI, will see the current higher inflationary environment flow through with a lag
** Brokerage says proceeds from the sale of A25 will be used for the planned bi-directional road project on the 95 Express lanes and for other U.S. acquisition opportunities, supporting business growth
** Twelve of 14 analysts rate the stock "hold" while one each rate it higher than "buy" and "sell"; their median price target is A$14.03, as per data compiled by LSEG
** Up 8% YTD, as of last close
(Reporting by Anjali Singh in Bengaluru)
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