Australia's Perenti hits 7-year peak after Bell Potter hikes PT

Perenti

29/09/2025 04:41

** Shares of Perenti PRN.AX rise 2.2% to A$2.74, hitting their highest since late February 2018

** Bell Potter hikes target price for mining services provider to A$2.8 from A$2.15, retains "hold" call

** Brokerage also raises adjusted EPS forecasts by 12%, 22.9% and 26.8% for fiscal years 2026, 2027 and 2028 respectively

** Bell Potter sees strong gold price, co's track record of beating or meeting guidance and new contract wins among others as key positives helping share price

** "Management are focused on improving returns and are helped by fundamental drivers that are well underpinned" - Bell Potter

** Stock up 96.4% YTD, including the day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))