Australia's SGH Ltd rises after RBC Capital Markets initiates coverage

SGH

20/05/2026 06:21

** SGH Ltd SGH.AX shares rise as much as 2.9% to A$41.36

** RBC Capital Markets initiates coverage on SGH with "outperform" rating, PT at A$47

** Brokerage expects SGH's Crux, a gas project that it has a 15.5% stake in, to act as positive catalyst for co

** Conservatively expects project to start producing gas in late 2H28, hit full production in FY30

** About 805,356 shares traded so far, 1.5x the 30-day average

** Three analysts rate the stock "buy" or higher and three "hold"; their median PT is A$48 – LSEG-compiled data

** Stock down 11.2% this year, including the day's move

($1 = 1.4083 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))