** Jefferies says Australian rail freight operator Aurizon's AZJ.AX long-term contract from BHP BHP.AX, the world's largest miner, enhances contract quality and divisional growth profile

** But the brokerage says market seeks resolution on three customers in administration and a clear path to breakeven for the Intermodal business

** Maintains 'buy' rating at price target of A$3.79

** AZJ is down 4.6% YTD

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))