Citi sees revenue upside for Australia's Monadelphous
23/01/2024 02:26
** Shares of Australia's Monadelphous MND.AX drop 1.6%,
the most in a six-session losing run
** However, Citi expects the engineering company to top its
own H1 revenue forecast of 5% growth, helped by a favourable
pricing environment for contractors
** "Optimistic outlook ... underpinned by no shortage of
opportunities and improving labour utilisation" - Citi
** Adds MND's improving secured work balance could attract
job seekers
** Analysts avg rating on MND is "buy" and their median PT
is A$14.51 vs current price of A$14– LSEG data
** MND rose 11.1% in 2023
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))
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