Morgans upgrades Transurban Group (TRAUF) to a Hold

Morgans analyst Nathan Lead upgraded Transurban Group to a Hold today and set a price target of A$13.39. The company’s shares closed today at $9.48.

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According to TipRanks, Lead is a 3-star analyst with an average return of 2.8% and a 54.02% success rate. Lead covers the Industrials sector, focusing on stocks such as Dalrymple Bay Infrastructure Ltd., Aurizon Holdings, and Transurban Group.

In addition to Morgans, Transurban Group also received a Hold from Morgan Stanley’s Samantha Edie in a report issued today. However, yesterday, Citi maintained a Buy rating on Transurban Group (Other OTC: TRAUF).

Based on Transurban Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.97 billion and a net profit of $180 million. In comparison, last year the company earned a revenue of $1.99 billion and had a net profit of $122 million