Insights

Transurban (ASX:TCL) share price jumps following broker upgrade

The toll-road operator now has has a market cap of around $40 billion.
The post Transurban (ASX:TCL) share price jumps following broker upgrade appeared first on The Motley Fool Australia. –

Transurban Group (ASX: TCL) shares are enjoying some time in the green today after Macquarie Group Ltd (ASX: MQG) raised its price target on the company.

At the time of writing, the Transurban share price is trading at $14.62, up 1.46%.

Let’s take a closer look at what Transurban has been up to lately.

Transurban Group – what is it?

Transurban stands on the podium as one of the biggest toll-road operators in the world.

Its operations span across Australia and North America, with large interests in each country.

It has expertise in all things toll roads, including the financing, development and maintenance of new and existing toll-road networks.

The company also has adjacent interests in the research of road and vehicle safety.

After listing in 1996, Transurban Group now has a market capitalisation of around $40 billion. It recognised revenue of $1.4 billion in the first half of this calendar year.

Brokers upgrade Transurban share price target

According to Bloomberg, investment banking giant Macquarie Group increased its price target on the company to $15.20 this morning. This represents an almost 4% upside potential to the current share price.

Well before COVID-19, Macquarie had set a price target of $15.48 for the Transurban share price.

Bloomberg also reports that Jarden Securities Limited began initial coverage on the company today, assigning a price target of $14.80.

The Transurban share price continues its walk into the green this morning following the release of these two broker updates.

What else has Transurban been up to lately?

On 24 June, the company announced details of its FY21 dividend distribution and FY21 results.

In the release, Transurban outlined it would return 21.5 cents per share for the six months ending 30 June, bringing the total dividends paid for FY21 to 36.5 cents per share.

Back in May, the company also announced its subsidiary, WestConnex, had completed a $1.8 billion private placement to pay down an outstanding debt facility, to the tune of $1.2 billion.

Since these events in the company’s narrative, shares in the toll-road operator have snaked their way 3% into the green.

Transurban share price snapshot

The Transurban share price has posted a year to date return of around 7%, having also jumped by approximately 7% over the past 12 months.

These returns have lagged the S&P/ASX 200 Index (ASX: XJO)’s gains of ~12% this year, and ~23% over the last 12 months.

The post Transurban (ASX:TCL) share price jumps following broker upgrade appeared first on The Motley Fool Australia.

Should you invest $1,000 in Transurban right now?

Before you consider Transurban, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Transurban wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Worst ASX 20 shares of the past year: CSL (ASX:CSL) makes the cut
ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat

2 strong ASX dividend shares tipped as buys

ASX 200 Weekly Wrap: ASX finishes FY21 on a high

2 quality ASX dividend shares with very attractive yields

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!