QUB is a national provider of logistics and transport services to Australian import-export supply chains. It is not a classic infrastructure stock per se, and investors often overlook it. The company announced in May that its subsidiary AAT will acquire Melbourne International RoRo & Automotive Terminal (MIRRAT) from Wallenius Wilhelmsen for ~A$332.5m. While detailed financials were not disclosed, QUB expects the deal to be earnings accretive in FY25. We expect QUB to perform well over the coming year due to valuation support and their low-risk earnings profile.
- We like QUB moving into Christmas; the risk/reward will be attractive into pullbacks ~$3.50.
MM is cautiously bullish QUB around $3.70
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