0017 GMT - NRW Holdings might be on track to surpass FY25 revenue expectations, Citi analysts say after the company announced several contract awards. In a note, the analysts say contracts are now in place for more than 96% of expected FY25 revenue, based on consensus and the bank's own forecasts. "With ample opportunities particularly sustaining and replacement iron ore capex, we think NRW could be securing a myriad of smaller packages that falls short of disclosure thresholds meaning revenue coverage could be higher than 96%," they add. Citi has a buy recommendation on NRW, with a high risk rating. It has a target price of A$3.85/share. NRW is down 1.4% at A$2.84, following a 3.2% jump Thursday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 20, 2025 20:17 ET (00:17 GMT)
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