0439 GMT - GenusPlus's bull at Bell Potter sees potential for the stock to further re-rate even after its strong start to fiscal 2027. With an unchanged buy rating on the stock, analyst Joseph House reckons that the Australian powerline construction company is modestly valued at 19.1 times estimated fiscal 2027 earnings. He tells clients in a note that he can see a multiple of between 22 and 24 times earnings if GenusPlus upgrades its guidance, maintains its strong pipeline conversion, or engages in more M&A activity. Its current fiscal 2027 guidance looks conservative to House, who holds his target price at 12.80 Australian dollars. Shares are down 4.2% at A$9.265.