Australia's Perenti rises after Bell Potter raises price target

Perenti

27/03/2025 04:53

** Shares of Perenti PRN.AX rise 1.5% to A$1.325 after Bell Potter ups price target to A$1.45 from A$1.35

** Brokerage increases co's reported NPAT forecast by 0.3% for FY25, lowers it by 12.2% and 10.9% for FY26 and FY27, respectively

** Brokerage estimates co's revenue to increase by 0.1% in FY25 and by 0.3% in FY26 and FY27 each

** Brokerage says PRN's shares have recovered well since its sell-off on results day

** In Februay, co's half-yearly profit fell by 9%, which sent shares plunging as much as 19%

** All seven analysts rate the stock 'buy' or higher, their median price target is A$1.4 - data compiled by LSEG

** Stock down 5% YTD, including moves in current session

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

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