Australia's Monadelphous rises; Bell Potter raises PT

Monadelphous

14/04/2025 04:22

** Shares of engineering company Monadelphous Group MND.AX rise 0.9% to A$14.95

** Bell Potter raises price target to A$16.2 from A$15.9, retains 'hold' rating; new PT a 9.4% upside to stock's last close

** Brokerage raises FY26 and FY27 revenue estimates to A$2.31 billion ($1.45 billion) and A$2.38 billion to reflect increased Zenviron project delivery

** Expects Zenviron joint venture to increasingly contribute to NPAT over FY25-27 through heightened near-term project tendering

** Analysts rate the stock 'hold' on average; their median price target is A$16.1 - data compiled by LSEG

** Stock up 6.8% YTD, including moves in current session

($1 = 1.5898 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))