0022 GMT - Service Stream's contract extensions with Australia's national broadband network have de-risked the company's near-term earnings outlook, Ord Minnett analyst Ian Munro says. Munro moderates his bullishness on the infrastructure developer and manager while he waits on its fiscal first-half results, but remains positive. He tells clients in a note that tender activity among peers suggests that there could be more broadband contracts in 2025. Ord Minnett raises its target price 1.8% to A$1.70 but lowers its recommendation to accumulate from buy. Shares are down 0.9% at A$1.605. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 05, 2024 19:23 ET (00:23 GMT)
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