Atlas Arteria Ltd

ALX: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$5.70	Yjvft	Hdzzyrhf

Reducing Atlas Arteria's FVE 3% on Lingering Coronavirus Impacts

Adrian Atkins

Dec 22, 2020

We trim our fair value estimate for narrow moat rated Atlas Arteria by 3% to AUD 6.00 after downgrading earnings forecasts because of continuing impacts from the coronavirus pandemic. We now forecast EBITDA grows at a compound annual rate of 7.1% over the next five years, compared with 7.9% previously. The stock appears fairly valued at current prices, offering a forecast 2021 yield of 4.6%.

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