First-half results were ahead of forecasts. Credit Suisse raises FY20 revenue estimates by 7%. Management has raised its Jacobs ECR synergy target to $175m from $150m.
The broker retains a Neutral rating and $15 target.
Target price is $15.00.Current Price is $13.50. Difference: $1.50 – (brackets indicate current price is over target). If WOR meets the Credit Suisse target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).