0102 GMT - Every cloud has a silver lining. That is Canaccord Genuity's view of Perenti's decision not to pursue an extension to its contract at the Khoemacau Copper Mine. Canaccord lowers its FY 2026 Ebita forecast by 3% as a result of that decision, but notes that this was the contract most at risk and that Perenti's balance sheet will be stronger as a result. "While this is a negative, the outlook for the company remains upbeat, and we view this as bad news out of the way," analyst Cameron Bell says. Canaccord retains a buy call on Perenti and raises its price target by 9.6% to A$1.48/share. Perenti is unchanged at A$1.33. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 22, 2025 21:02 ET (01:02 GMT)
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