Australia's Macmahon Holdings gains as Macquarie raises PT after Decmil buy

Decmil

17/04/2024 02:19

** Shares of Australia's Macmahon Holdings  MAH.AX  rise as
much as 4.3% to A$0.245
    ** Analysts at Macquarie raise PT on the mining services
provider by 8% to A$0.27
    ** MAH announced a deal on Tuesday to buy engineering firm
Decmil Group  DCG.AX  for A$127 mln ($81.39 mln), including debt
    ** Macquarie expects deal to increase MAH's revenue by 20%
and EBITDA by 10% for FY25
    ** MAH continues to benefit from a strong order book and the
increased underground work should be positive for margin in the
medium term - Brokerage
    ** MAH stock had risen 27.1% this year, as of last close 

($1 = 1.5603 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))