BUZZ-Citi lowers price target for Australia's Johns Lyng on outlook cut

Reuters

02-26

BUZZ-Citi lowers price target for Australia's Johns Lyng on outlook cut

** Citi lowers its price target for Johns Lyng's JLG.AX shares to A$2.70 from A$3.95, maintains "neutral" rating

** Brokerage accounts for its lowered FY25 earnings before interest, taxes, depreciation and amortization, accounting for lower contributions from its Insurance Building and Restoration Services segment

** Building service provider posted on Tuesday HY NPAT of A$20.8 million ($13.19 million) vs A$31.1 million a year earlier

** 8 of 11 analysts rate the stock "buy" or higher, 3 "hold;" their median PT is A$4.60, according to data compiled by LSEG

** Stock fell 32.4% YTD

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))

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