Transurban (TCL) has enjoyed 2022 as the defensive stock has ridden the “risk-off” theme, although MM believes the market is positioning itself for a decent bounce over the coming months we so no reason to abandon our position due to relatively short-term swings. MM went long TCL into the COVID inspired weakness over 2-years ago and while dividends have been lower over that time, a healthy ~25% capital gain to date and the expectation that dividends will increase in the future keeps us positive. The toll-road operator is forecast to yield ~3.2% over the next 12-months while we believe a test of its post-COVID high through 2022 feels almost inevitable.
MM is long and bullish TCL as an income play
Add To Hit List
