BUZZ-Australia's Monadelphous rises to 3-week high; Morningstar raises fair value by 8%

Morningstar, Inc.

Morningstar, Inc.

MORN

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** Shares of Australia's Monadelphous MND.AX gain as much as 1% to A$30.60, their highest since June 9

** Morningstar lifts fair value estimate for Monadelphous by 8% to A$20.60, changes uncertainty rating to 'medium' from 'high ', citing margin improvement

** Engineering contractor poised for further growth, supported by favourable structural dynamics, strong maintenance demand, and energy transition tailwinds for firm's services - Morningstar

** Investment research firm forecasts a five-year revenue compound annual growth rate of 8% to A$3.1 billion for MND, a slight upgrade from its prior outlook

** MND up 17.5% YTD


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