Southern Cross Electrical Engineering (ASX:SXE) is set for earnings growth in fiscal 2025 and 2026, following the award of AU$125 million in new projects, Euroz Hartleys said in a Dec. 11 note.
The company's units won a range of projects in the data center, commercial, manufacturing, resources, and water sectors.
Euroz Hartleys said the project wins reflect ongoing demand in key sectors, particularly inelastic markets such as data centers and electrical services. It also expects the recent wins to strengthen the company's long-term trajectory and sees potential for further projects.
The financial services firm maintained its buy rating and price target of AU$2.14 on Southern Cross Electrical Engineering.
Southern Cross Electrical Engineering's shares rose past 2% in recent Monday trade.
Price (AUD): $1.45, Change: $+0.03, Percent Change: +2.26%
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