With traffic data and average toll prices already known, CEU’s FY11 result was more about cost performance.
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Connect East (CEU) - Takeover
+ CEU has received a bid from Horizon Roads, a private equity investment vehicle managed by CP2, for $0.
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Connect East (CEU) - Upgrade to Positive
EastLink is a high quality road asset with substantial excess capacity such that it is unlikely to require significant expansion to cater for our traffic forecasts throughout its concession period.
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Connect East (CEU) - Counting cars, Counting costs
We maintain our Neutral recommendation.
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Connect East (CEU) - Yield Limits Upside
Our recommendation on CEU has been reduced from Positive to Neutral.