0134 GMT - Mining and construction services company NRW Holdings is ripe for a guidance upgrade after providing an upbeat outlook at its annual shareholder meeting, says Citi analyst William Park. NRW's A$7 billion order book effectively covers more than two years of revenue, its active tender balance is healthy at A$5.1 billion and its FY 2025 civil margin and METS revenue expectations are ahead of both Citi's and consensus forecasts, Park says. "We think NRW could be taking a prudent approach to assess potential weather-related impacts in December and January, particularly in QLD [Australia's Queensland state], before handing down an upgrade," he says. "The timing could very well be at the interim result in February." Citi has a buy rating and A$4.05 target on NRW. The stock is up 1.0% at A$3.89. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
November 26, 2024 20:34 ET (01:34 GMT)
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