Citi trims estimates on Australia's Monadelphous on weak revenue forecast

Monadelphous

22/11/2023 24:20

** Citi says Monadelphous Group  MND.AX  forecast of %%
revenue growth in half-year of FY24 is below its expectations of
6% YoY growth 
    ** Brokerage trims FY24 revenue forecast by 3% to A$2,020
mln ($1.31 bln)
    ** However, raises price target for the engineering firm to
A$16.20 from A$15.30; maintains "Buy"    
    ** Six of 10 analysts rate the stock "Buy" or higher, three
"Hold" and one "Sell"; their median PT is A$14.75 – LSEG data
    ** Stock up 7.8% this year as of last close

($1 = 1.5366 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))