Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Symal Group Limited ( (AU:SYL) ) has issued an update.
Symal Group Limited has announced its acquisition of Locale Civil Pty Ltd, a strategic move to enhance its utility civil capabilities. This acquisition, valued at up to $35 million, includes a 6-year civil works agreement with Power Network Services, ensuring a minimum of $230 million in recurring revenue. The acquisition is expected to boost Symal’s earnings and market position, providing a solid foundation for future growth in Australia’s utilities industry. The integration of Locale is anticipated to strengthen Symal’s ability to secure larger contracts and deliver sustainable returns for shareholders.
The most recent analyst rating on (AU:SYL) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Symal Group Limited stock, see the AU:SYL Stock Forecast page.
More about Symal Group Limited
Symal Group Limited, founded in 2001 and headquartered in Melbourne, Australia, is a company specializing in civil infrastructure. It offers a wide range of services including contracting, plant and equipment hire, material sales and recycling, and remediation services. The company operates through a vertically integrated project delivery model across its five main brands: Symal, Sycle, Unyte, Searo, and Wamarra. Symal is listed on the Australian Securities Exchange (ASX: SYL).
Average Trading Volume: 73,757
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$384.9M
Find detailed analytics on SYL stock on TipRanks’ Stock Analysis page.