Civmec Could Benefit From New Contracts, Extensions Worth Over A$600M -- Market Talk
Dow Jones
Jul 24
0546 GMT - Civmec stands to benefit from new contracts and extensions worth over A$600 million, Maybank Research's Eric Ong says. This includes the addition of 'SEA1180' works program following the company's acquisition of Luerssen Australia in July, further strengthening its position in the maritime defence sector, the analyst says in a research report. The construction and engineering services provider has also secured a package of works for Rio Tinto's Cape Lambert Port A facility and for Fortescue's Christmas Creek Green Iron Project. Maybank raises the stock's rating to buy from hold and the target price to S$1.05 from S$0.89. Shares are 5.35% higher at S$0.985. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
July 24, 2025 01:46 ET (05:46 GMT)
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