Citi sees Monadelphous Group reporting 10% revenue growth for 2024

Monadelphous

11/07/2024 19:58

** Analysts at Citi expect Australia's Monadelphous Group
 MND.AX  to report 10% revenue growth for FY24
    ** "Co is well-placed to replenish and sequentially grow its
order book" - Citi
    ** Citi, however, cuts earnings forecasts to reflect
potential delays in large construction project awards
    ** Adds, forecast trimming resulted in 3-4% cuts to Citi's
FY25 and FY26 EBITDA forecasts
    ** Maintains "buy" rating and keeps target price unchanged
at A$16.20 per share
    ** Six of 13 analysts rate the stock "buy" or higher, five
"hold" and two "sell" or lower; their median PT is A$14.89 –
LSEG data
    ** Stock is down over 14% this year as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Rod
Nickel)
 ((Rajasik.Mukherjee@thomsonreuters.com;))