NRW Holdings has pleasantly surprised Citi with its recent contract wins, says analyst William Park. "NRW continues to demonstrate despite its solid topline visibility," Park says in a note. Citi estimates NRW could have up to 97% of FY 2026 revenue covered after NRW's Fredon won a number of data-center contracts. "For us, the key for the next few months is level of precipitation" in Australia's Queensland state, says Park. "Notwithstanding this, we reiterate that risk remains likely to the upside for NRW." Citi reiterates a buy rating and A$5.95 target. NRW ended Friday at A$5.41. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 07, 2025 17:12 ET (22:12 GMT)
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