Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James & Team I would appreciate your views on ALX as it is a while since you reviewed this stock. The Share Price has fallen to lows near resistance and looks oversold following the share dilution & fund raising for recent acquisitions last year. Now earnings accretive. Richard
Hi Richard,
A quick recap, Atlas (ALX) has stakes in a number of toll roads with most exposure in France and the US. We wrote about our views on infrastructure in Wednesday’s AM report here. We like the space and as a by-product have some interest in Atlas. Current expectations have the stock paying ~8% dividend yield though there is likely more risk to these numbers vs Transurban (TCL) given Atlas have a number of smaller stakes as well as greater currency risk. Shares have also been weak on additional taxes being imposed on their assets in France. We are more 50/50 currently.
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