The Transurban Group (ASX: TCL) share price has hit its stride over the last 2 months.
At the time of writing, the Transurban share price is $14.15, 13.2% higher than it was two months ago and 1.5% higher than it was at the start of 2022.
For context, the S&P/ASX 200 Index (ASX: XJO) has gained just 1% over the last 2 months and it’s fallen 6% year to date.
But does the stock have the potential to go higher? Let’s take a look at why brokers think the toll road operator has a green future.
Does the Transurban share price offer more upside?
The Transurban share price has been outperforming the ASX 200 in 2022.
In fact, the S&P/ASX 200 Index (ASX: XJO) has slumped nearly 5% over the last 30 days. Meanwhile, the Transurban share price has continued its upward momentum. It has lifted 3.6% in that time frame.
And brokers expect its strong run to continue into the future.
Macquarie Group Ltd (ASX: MQG), Bell Potter, and Morgans see plenty of potential for upside in the toll road operator.
The group’s current pipeline of growth projects is $3.9 billion … and further huge development opportunities are expected over the next few decades supported by population and economic growth.Bell Potter, as quoted by my Fool colleague, James Mickleboro.