Australia's Ventia Services hits record high after Morningstar lifts fair value
BUZZ-Australia's Ventia Services hits record high after Morningstar lifts fair value Updates
** Shares of Australia's Ventia Services VNT.AX rise as much as 1.1% to A$6.7, reaching a record high
** Morningstar raises its fair value estimate for the infrastructure services provider to A$5.90, a 9% increase from prior estimate
** Says stock is 'somewhat overvalued', implying 7.7% revenue growth, slightly above the mid-point of the company's target range
** Adds that VNT is well-positioned for growth on favorable structural dynamics, but sees 5.1% compound annual revenue growth rate for the four years to 2029, toward the low end of the company's 5%-10% target
** Notes that A$1.2 billion ($842.04 million) in new and renewed contracts in H1 2026 is a step back from 2025, which was a standout year for large contract wins
** Avg stock rating of 11 analysts suggest 'buy'; their median price target is A$6.27, LSEG-compiled data shows
** YTD, stock up 12%
($1 = 1.4251 Australian dollars)
(Reporting by Anjali Singh and Aamir Sheik Khalid in Bengaluru)
((anjali.singh2@thomsonreuters.com
Aamir.SheikKhalid@thomsonreuters.com;))
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Australia's Ventia Services hits record high after Morningstar lifts fair value
Morningstar lifts Australia's Ventia fair value, says stock somewhat overvalued