Service Stream Bull Is Positive on Defense Opportunities -- Market Talk

Dow Jones

2025/03/31

0357 GMT - Citi remains bullish on Service Stream's potential to secure Australian defense contracts. Analyst William Park tells clients in a note that last week's announcement by engineering company Downer EDI of a six-month contract extension with Australia's defense department suggests that contract award timing is intact. Park says Service Stream's property and asset services unit is well positioned to secure some packages, which could serve as a potential catalyst for the stock. Citi maintains a buy rating and a target price of A$2.00 on the stock, which is down 1.4% at A$1.75. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 30, 2025 23:57 ET (03:57 GMT)

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