ACF – Morgans rates the stock as Add
Morgans lifts its FY22 estimates and increases its target price to $0.58 from $0.56. The Add rating is unchanged.
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Acrow Formwork And Construction Services Limited
The name Acrow has been active in the Australian construction industry since 1950 and its heritage dates back to 1936, when the company was first launched in the United Kingdom. Together, the Acrow Group of Companies has over a century of experience in the Australian market.
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Analyst Views
ACF – Morgans rates the stock as Add
The Add rating is retained and the target price increases to $0.56 from $0.55.
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ACF – Morgans rates the stock as Add
The second half has started strongly with the company's hire contract wins up 28% versus pcp in the first two months of 2021. Morgans lifts the target to $0.53 from $0.50 and retains the Add rating.
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ACF – Morgans rates the stock as Add
First half underlying earnings exceeded Morgans forecast by 13% as revenue in the key formwork division jumped 46%. Add rating and target is increased to $0.50 from $0.40.
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ACF – Morgans rates the stock as Add
Morgans believes the focus of Acrow Formwork and Construction Services on the civil infrastructure market is the right strategy that provides opportunities for solid growth over the longer term.
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