Cleanaway Waste Management (CWY:AU) Shares Receive Positive Outlook from RBC Capital with Increased Price Target - What Does This Mean for Investors?
RBC Capital recently adjusted its outlook on Cleanaway Waste Management shares, increasing the price target to AUD3.40 from AUD3.20 and maintaining an Outperform rating. This adjustment comes after Cleanaway's fiscal year 2024 financial results exceeded expectations, showing a 19% rise in EBIT to $359 million.
The company also announced a final dividend of 2.55 cents per share, in line with forecasts, and provided EBIT guidance for fiscal year 2025 between $395 million and $425 million. Cleanaway reiterated its fiscal year 2026 ambition to achieve an EBIT of "more than $450 million."
RBC Capital highlighted Cleanaway's consistent adherence to targets and praised the firm's disciplined and predictable approach as key drivers behind the solid results. Investors have responded positively to the updated guidance, with the stock's new price target reflecting confidence in Cleanaway's operational performance and strategic direction.
In summary, this adjustment in outlook and price target for Cleanaway Waste Management shares signals continued growth and profitability for the company. Investors can take advantage of this positive momentum by considering adding Cleanaway shares to their portfolio for potential long-term financial gains.