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Transurban upgraded to Buy from Hold at Jefferies

Jefferies analyst Anthony Moulder upgraded Transurban to Buy from Hold with an unchanged price target of A$14.08. Though the ACCC has opposed Transurban’s proposed acquisition of a stake in Eastlink, the ACCC decision does not change the firm’s valuation, says the analyst, who cites recent security price weakness and the upside to the firm’s price target as reasons to upgrade the shares.

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