Worley Loses Bull on Near-Term Headwinds -- Market Talk
Dow Jones
Feb 27
0044 GMT - Worley loses in bull in Barrenjoey after its 1H profit result. Engineering giant Worley faces "a number of near-term overhangs limiting share price upside," says Barrenjoey analyst Megan Kirby-Lewis. That includes professional-services earnings headwinds and increasing exposure to construction work that typically attracts a lower multiple than engineering, Kirby-Lewis says. The Australian investment bank downgrades Worley to neutral from overweight. It cuts its target price on the stock to A$13.10/share from A$16.45. Worley falls 6.4% to A$10.96, adding to a 10% loss Thursday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 26, 2026 19:44 ET (00:44 GMT)
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