Aurizon Holdings: Looking forward to a stronger FY24

About the author:

Nathan Lead
Author name:
By Nathan Lead
Job title:
Senior Analyst
Date posted:
15 August 2023, 7:30 AM
Sectors Covered:
Infrastructure, Utilities, Banks

  • Aurizon Holdings' (ASX:AZJ) FY23 EBITDA in aggregate was as expected, and FY24 EBITDA growth guidance had already been provided. The step-up in interest costs is a negative surprise for the market, as is the decline in dividend franking for income-oriented investors.
  • Immaterial EBITDA changes. FY24-26F EPS/DPS downgrades of 3-6% due to higher interest and D&A assumptions. Target price -7 cps to (login to view). HOLD retained.

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