KGI Securities analyst Megan Choo has reiterated her “outperform” rating for Civmec with a higher target price of 90 cents, up from 86 cents previously, in a Sept 8 research note.

The revised target price follows Civmec’s “outstanding” FY2021 ended June results, where its full-year earnings of A$34.6 million ($34.4 million) rose 97% y-o-y and beat Choo’s estimates of A$33.5 million. She notes that the company’s main revenue driver continues to be the metal and minerals sector which increased 66% y-o-y, making up 83% of total revenue for FY2021. 

See: Civmec's earnings more than double to $19.4 mil in 2H21

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