Citi, a leading brokerage firm, reported that the annual results of NRW Holdings (ASX:NWH) for 2023 were in alignment with their projections.

The brokerage firm has increased the price target from A$2.90 to A$3.15 while maintaining a ‘buy’ rating for the company’s stock.

NRW Holdings (ASX:NWH) shared its FY earnings, revealing that it had posted a revenue of A$2.7 billion, reflecting a positive increase of 11.4% from FY22.

The earnings were in line with what was expected according to the company’s guidance.

The FY EBITA reached A$166.3 million, marking an uptick of 13.3% from FY22.

Citi is estimating an FY24 EBITA of A$185 million for NRW Holdings (ASX:NWH), which would be at the high end of the company’s guidance range.

As per Refinitiv data, out of 8 analysts, 4 have rated the stock as ‘buy’ or higher, one suggested ‘hold’, and the collective median price target is A$3.09.

The stock of NRW Holdings (ASX:NWH) was reported to be down by 4.3% at the end of last year.

NRW Holdings is a leading company engaged in providing diversified services across globe.