Citi keeps Australia's NRW Holdings as 'buy' after data centre deals

Citi reiterates "buy" rating on Australia's NRW Holdings NWH.AX, after co on Friday said Fredon business secured data centre contracts valued at A$150 million ($99.62 million)

Fredon, NRW Holdings' electrical and mechanical services business, secured four data centre contracts which include electrical and HVAC works in Victoria and Brisbane

Estimated revenue contribution from these work packages in FY26 could be as large as A$60-70 million which further bolsters NRW's revenue coverage - Citi

Nine of 10 analysts rate the stock "buy" or higher, one "hold"; their median PT is A$5.18, according to data compiled by LSEG

Stock has risen 40.9% this year, as of last close

($1 = 1.5058 Australian dollars)