Duratec's New AU$68 Million Contract is 'Particularly Encouraging' Positive Catalyst, Euroz Hartleys Says
Duratec's (ASX:DUR) new AU$68 million contract from the Clough BMD joint venture bolsters the company's strong positioning within defense and marine infrastructure, advancing its momentum from a recent HMAS Stirling award, Euroz Hartleys said in a Wednesday note.The contract includes construction and commissioning works at the Blastr & Paint Facility within the Darwin Ship Lift Facility project in the Northern Territory, expected to commence in June and be completed in mid-to-late 2027."In our view, today's contract is particularly encouraging given it was not necessarily on the market's radar, further highlighting the diversity of [Duratec's] opportunity pipeline and earnings exposure," the equity research firm said.The award is a positive catalyst, adds further medium-term revenue visibility, bolsters confidence in a contract-rich calendar year, and shows the company's ability to capitalize on opportunities, Euroz Hartleys said.It maintained a buy recommendation and a AU$3.09 per share price target on Duratec.
