Tiger Brokers

BUZZ-Macquarie cuts PT for Australia's Ventia Services on regulatory proceedings

Reuters
Dec 13, 2024

** Ventia Services Group trades 3.9% higher at A$3.46, after hitting a near 1-year low earlier in the day

** Stock hovers around more than 9-month low hit on Thursday

** Australia's competition regulator begins civil proceedings against infra services provider's unit for alleged price fixing for services at Department of Defence bases

** Macquarie cuts PT by 9% to A$4.26, citing greater uncertainty over proceedings

** Says Department of Defence important client, contributed ~18% to co's H1 FY24 rev

** Adds Department not awarding any or less contracts for renewal a key risk

** Stock rated "buy" on avg; median PT is A$4.45 - LSEG

** VNT up 6.1% this year, as of last close

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10