Citi upbeat on Johns Lyng Group's FY24 results, raises target price

Johns Lyng

07/07/2024 21:19

** Citi analysts are hopeful of Australia's Johns Lyng
Group's  JLG.AX  FY24 results
    ** Brokerage expects the company to record revenue of
A$1.227 billion ($826.51 million) and EBITDA of A$132 million in
FY24
    ** Citi sees momentum accelerating in FY25 for JLG
    ** Hikes target price to A$7.85 per share, rates stock "buy"
    ** Citi says the company remains its top pick in the
Contractors coverage universe
    ** Nine of 12 analysts rate the stock "buy" or higher, two
"hold" and one "sell" or lower; their median PT is A$7.20 – LSEG
data
    ** Stock is down over 6% so far this year, as of last close

($1 = 1.4846 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Lisa
Shumaker)
 ((Rajasik.Mukherjee@thomsonreuters.com;))