Downer EDI Ltd

DOW: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$7.79	Mxh	Jzhzwnmk

Downer: Contract Awards and Early EBITA Trends Bode Well For Growth Targets to Be Met

Mark Taylor

Dec 6, 2023

We retain our AUD 5.60 fair value estimate for no-moat Downer. The company’s shares remain materially undervalued, in 4-star territory. Ongoing contract awards and continued earnings improvement from the disastrous first-half fiscal 2023 are likely key catalysts for share price recovery.

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