0339 GMT - Australian engineering services provider Civmec keeps its bull at Bell Potter despite what analyst Daniel Laing says is a challenging outlook for iron-ore prices. Laing points out that the federal government's annual review of major resources and energy projects indicates that investment in major iron-ore projects remains relatively stable. He reminds clients in a note that Civmec said in November that tendering activities were at historically high levels across all its business segments. Laing adds that there are 31 publicly announced iron-ore projects with an estimated value of A$39.7 billion, with further upside likely. Bell Potter trims its target price 2.9% to A$1.70 and maintains a buy rating on the stock, which is up 0.4% at A$1.335. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 22:39 ET (03:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。