2136 GMT - A 16% share-price slide by NRW since the start of this year prompts Jefferies to call a buying opportunity in the engineering contractor's stock. In a note, analyst Nicholas Rawlinson says the stock's weakness reflects fading hopes that NRW will beat FY23 guidance and, more recently, a loss of confidence in the near-term development outlook because the macroeconomy looks less certain. "Conversely, news this week from Pilbara Minerals and Northern Star signals an intention to proceed with large development projects, increasing our confidence that meaningful contract awards for Primero are imminent," Jefferies says. "Value is compelling (7x Ebit) and the time to buy NRW is before work is awarded." ([email protected]; @dwinningWSJ)
(END) Dow Jones Newswires
March 30, 2023 17:36 ET (21:36 GMT)
2136 GMT - A 16% share-price slide by NRW since the start of...
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Last
$3.82 |
Change
0.000(0.00%) |
Mkt cap ! $1.746B | |||
| Open | High | Low | Value | Volume |
| $3.79 | $3.83 | $3.77 | $2.610M | 684.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2857 | $3.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.83 | 6633 | 4 |
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| NWH (ASX) Chart |