0320 GMT - The selloff in Worley shares seems excessive, Citi says. "Overall, we think the fundamentals remain intact," says analyst Tom Wallington. His remarks follow an earnings downgrade from the engineering giant related to Middle East project delays and a stronger Australian dollar. A reopened 2015 class action adds uncertainty but exposure is largely contained by insurance, Wallington says. Citi reiterates a buy rating on Worley and lowers its target to A$12.50 from A$13.60. Shares are down 4.3% at A$10.60, adding to Thursday's 9.7% loss. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
June 25, 2026 23:20 ET (03:20 GMT)
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