Worley Risks Outweigh Rewards Amid Uncertain Outlook

Dow Jones
06/26

0410 GMT - The risk of buying shares in ASX-listed engineering giant Worley outweigh the rewards, according to Jefferies. The bank says it sees better opportunities in other industrial stocks. It reiterates a hold rating and lowers its share-price target to 10.61 Australian dollars from A$11.48. Worley cautions of deeper-than-anticipated hit to earnings from Middle East project delays. "Worryingly, these impacts will likely spill into FY27," Jefferies says. "Current valuation discounts the uncertain outlook, but we remain well below VA [Visible Alpha] estimates and see limited near term catalysts for a re-rate." Shares are down 4.2% at A$10.62, adding to Thursday's 9.7% loss. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

(END) Dow Jones Newswires

June 26, 2026 00:10 ET (04:10 GMT)

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