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Perenti Ltd (PRN) and Service Stream (SSM)

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Question asked 28/02/2026

Perenti Ltd (PRN) and Service Stream (SSM)

Hi James & Team Can I have your view on Perenti & Service Stream now they have reported. Would you continue to hold? Do you see PRN share price recovering from the hit it took? Some Brokers have Price Targets on SSM of $2.50 & $2.85. (currently $2.09) regards Debbie

Answer

Hi Debbie,

Perenti Ltd (PRN) has endured a tough week after reporting its 1H earnings. The diversified mining services company delivered revenue down 0.1% and a 2% decline in earnings for the period. Looking ahead, management is forecasting revenue of $3.45 billion to $3.55 billion for FY 2026. This is broadly in line with the $3.49 billion it achieved in FY 2025.

Overall, this was a steady result but not one that justified the stocks +300% rally over the last year.

We are neutral ~$2.40 with the stock still expensive on a historical basis.

Old favorite, infrastructure support services company, Service Stream (SSM) looks good around $2.10, and we can see a test of $2.50+ in the next 12-months.

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Perenti Ltd (PRN)

LAST UPDATED 27/02/2026 12:18

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