Australia's Wagners hits 6-1/2-year peak after Morgans upgrade

Wagners Holding

04/11/2025 03:23

** Wagners Holding Company Ltd WGN.AX shares rise as much as 11.4% to A$3.14, their highest level since March 18, 2019

** Logs largest intraday pct jump since mid-September

** Morgans upgrades construction material producer to "accumulate" from "hold", hikes PT to A$3.1 from A$2.9

** Brokerage optimistic on co's outlook as demand has continued "unabated" through 4Q25 and into 1Q26

** Adds, co well-positioned to scale up for large infra projects, particularly Brisbane 2032 Olympics

** More than 908,000 shares traded so far, nearly 5x 30-day average

** Stock more than doubled in value so far this year, including day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

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