0037 GMT - Perenti is expected to post another solid half, underpinned by contract mining and potentially some improvement in drilling services margins, says Citi analyst William Park. Perenti "is at a crossroads now, with a high likelihood of guidance upgrade in the near-term," Park says. Citi raises its target on the stock to A$1.60 from A$1.15 previously. It keeps a buy rating. "Sentiment has started to turn following [more than] A$180 million of free cash generated in FY24, and we think this momentum could continue especially with PRN well placed to deliver another solid year of free cash," Park says. Shares in Perenti rose by 40% in the second half of 2024. The stock is down 1.0% at A$1.425. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 06, 2025 19:37 ET (00:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。