Aurizon Holdings: Target achieved
About the author:
- Author name:
- By Nathan Lead
- Job title:
- Senior Analyst
- Date posted:
- 05 July 2023, 7:00 AM
- Sectors Covered:
- Infrastructure, Utilities, Banks
- We downgrade Aurizon Holdings (ASX:AZJ) from ADD to HOLD, given recent share price strength has compressed total return potential (12 month c.4%, 5-yr IRR 7.5% pa).
- AZJ is a net beneficiary of higher interest rates (through its Network revenues WACC reset net of actual interest cost increase) and higher inflation (CPI-linked pricing). Investor event in mid-July expected to update Bulk growth ambitions.
- Forecasts upgraded, target price lifted to (login to view) per share.
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