Macquarie cuts PT for Australia's Transurban on slowing road traffic
** Analysts at Macquarie cut price target for Transurban Group TCL.AX to A$12.81/shr from A$13.74/shr; retains 'neutral' rating
** Brokerage see negatives for TCL's earnings due to slowing road traffic
** Shares of the toll road operator were up as much as 1.4% to A$12.520
** Macquarie says with Sydney having an employment growth below population growth, it is a negative for road growth as slowing employment slows pace of road congestion
** Brokerage says Brisbane segment for TCL should bounce back after a weather-impacted 3Q24
** Three of 15 analysts covering the stock rate it "buy" or higher, 10 rate "hold" and 2 rate "sell" or lower; their median PT is A$13.35 - LSEG data
** Stock down 9.9% YTD, as of last close
Reporting by Shivangi Lahiri in Bengaluru
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