Jefferies ups EPS estimates for Johns Lyng Group on adverse weather events

Johns Lyng

10/01/2024 20:48

** Analysts at Jefferies increase earning per share
estimates for Australia's building services firm Johns Lyng
Group  JLG.AX 
    ** Raises FY24 EPS ests by 5% and for FY25 by 3%, citing
upside from tropical cyclone Jasper and other weather events
post-November in Australian East Coast
    ** Jefferies sees rural Victoria flooding events will
contribute additional A$95 mln ($63.66 mln) in JLG's revenue &
A$11 mln in EBITDA across 2H24 and 1H25 
    ** Brokerage upgrades co's price target to A$7.00 from
A$6.50; retains "hold" rating
    ** Nine of 12 analysts rate the stock "buy" or higher and
three "hold"; their median price target is A$7.25 – LSEG data
    ** Stock dropped 1.1% in 2023


($1 = 1.4923 Australian dollars)

   

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))