Dusk before dawn - Macquarie Research rate WorleyParsons (WOR) outperform. WOR now expects $260-300m FY14 NPAT, which is a minimum ~13% downgrade to prior guidance of growth on FY13's $322m. Tougher Australian and Canadian operating conditions are partly to blame, as is a further project issue in Cord Canada business. We retain an OP with TP of $20.48. In the past, major share price pull backs have provided attractive entry points (eg May 2013).
The Livewire Equities feed brings you a range of insights that relate to Australian equities
No areas of expertise