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Atlas Arteria Ltd ALX

Rating as of

Morningstar’s Analysis

Valuation
Currency in AUD
Is it the right time to buy or sell?
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Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Atlas' Traffic Is Recovering but We Don't See Much Value at Current Prices

Adrian Atkins Senior Equity Analyst

Analyst Note

| Adrian Atkins |

We maintain our AUD 5.70 fair value estimate for narrow-moat-rated Atlas Arteria. We expect ongoing recovery in traffic volumes to support a solid and growing dividend yield for the medium term. The main issue with Atlas, though, is the short concession life of the main asset--APRR in France. The stock currently trades at a modest 11% premium to our valuation.

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Company Profile

Business Description

Atlas Arteria is a global toll-road investor created out of the reorganisation of Macquarie Infrastructure Group in 2010. The firm's main asset is a 31.4% stake in Autoroutes Paris-Rhin-Rhone, or APRR. APRR owns concessions to toll more than 2,300 kilometres of motorways in eastern France, most ending late 2035. The firm also wholly owns the Dulles Greenway toll road in the U.S.

Contact
141 Flinders Lane, Level 5
Melbourne, VIC, 3000, Australia
T +61 438493692
Sector Industrials
Industry Infrastructure Operations
Most Recent Earnings
Fiscal Year End Dec 31, 2021
Stock Type
Employees

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