Atlas Arteria (ALX) is an ASX-listed company that owns and operates toll roads globally, with major assets in France, Germany, and the United States. IFM Investors holds over 35% of Atlas Arteria, it’s a global institutional asset manager that manages in excess of $240bn. Importantly, M&A is actually the signature of the company, with its global infrastructure fund being one of the largest in the world, suggesting that, at a price, ALX could be a target. We see little downside below $5 making the ~8% yield more attractive, while a potential takeover is added attraction for buyers at current levels.
- We like ALX around $5.00 with its next dividend due in March forecast to be 20c unfranked, putting the company on a 7.9% yield.
MM is bullish towards ALX for capital gains and yield
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