Jefferies lowers PT as Worley HY EBITDA misses its forecast

Worley

28/02/2024 20:49

** Jefferies lowers Worley Ltd's  WOR.AX  price target on
"slightly softer than expectations" HY results
    ** Brokerage firm says, co's HY EBITDA of A$345 million 
($224.11 million), missed Jefferies forecast by 4%
    ** Jefferies cuts co's FY24 EBIT by 3% on higher corporate
costs
    ** Adds, EBIT cut also includes some risk adjustments to our
revenue assumptions
    ** Seven of nine analysts rate the stock "buy" or higher,
two "hold"; their median PT is A$18.70 – LSEG data
    ** Maintains "buy" rating, cuts PT to A$18.50 from A$19.50
    ** Stock down over almost 8% YTD, as of last close
    
    
($1 = 1.5394 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))