Macquarie notes the Virginia Department of Transportation has signed off on a corridor study to address bottlenecks on the ramps to the Greenway/DTR interchange as has the Metropolitan Washington Airports Authority.
This should lift savings in travel time and, despite competition, the broker believes it will be positive for traffic flow. Overall, the broker remains attracted to the strong yield in the stock. Neutral rating and $8.25 target maintained.
Sector: Transportation.
Target price is $8.25.Current Price is $8.02. Difference: $0.23 – (brackets indicate current price is over target). If ALX meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
