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NRW Holdings Faces Degree of Recontracting Risk, But Resources Sector Outlook is Strong, Jefferies Says

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NRW Holdings (ASX:NWH) faces a degree of re-contracting risk combined with elevated valuation metrics, but the resources sector outlook is strong, according to a Friday note from Jefferies.

It announced two new southeast Queensland civil contracts for Golding totaling AU$130 million, to be completed by March 2028, taking 2026 year-to-date wins to around AU$1.8 billion compared with AU$500 million year-over-year.

This reflects a buoyant Australian contracting environment, driven by structural factors around resources and energy.

The investment firm assigned a hold rating on NRW Holdings with a price target of AU$6.60 per share.

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