Following on from NRW Holdings (NWH) strong 8.4% rally yesterday after its positive AGM we thought it was worth a quick look at one of its peers to see if we liked its prospects. The likes of Monadelphous (MND) & CIMIC Group (CIM) are not as cheap as NWH making the risk / reward less appealing for a recovery play hence MM will stick with our position in NWH after yesterday’s very encouraging revenue and work flow guidance i.e. its delivered good news plus its cheaper, a simple decision.
MM is neutral MND
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