Perenti (ASX:PRN): Where Do Analysts See the Company Heading?

Sonal Goyal

08 October 2026 04:48 AM AEDT

Perenti (ASX:PRN): Where Do Analysts See the Company Heading?

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Highlights

Consensus rating of Buy from 5 analysts: 5 Buy or equivalent, 0 Hold, 0 Sell or equivalent.
Mean price target of A$2.80 against a share price of A$2.20 on 8 October 2026, an implied upside of 27.2%.
Analyst targets range from A$2.66 to A$3.03.
Perenti (ASX:PRN) announced on 29 September 2026 the award of multiple contracts worth more than A$200 million across its five drilling businesses and its underground Mining business, AUMS.

Perenti (ASX:PRN) carries a consensus analyst rating of Buy. Of the 5 analyst recommendations recorded, 5 are Buy or equivalent, 0 are Hold and 0 are Sell or equivalent. The mean price target is A$2.80, with targets ranging from A$2.66 to A$3.03, against a current share price of A$2.20 (8 October 2026). Perenti Limited is a global mining services company with drilling businesses Ausdrill, DDH1 Drilling, Ranger Drilling, Swick Mining Services and Strike Drilling, and the underground mining Business AUMS.

Company name	Perenti
Ticker	(ASX:PRN)
Exchange	ASX (Australian Securities Exchange)
Current share price	A$2.20
Price date	8 October 2026
Number of analysts	5
Rating consensus	Buy
Consensus price target (mean)	A$2.80
Highest target	A$3.03
Lowest target	A$2.66
Implied upside/downside to mean target	Implied upside of 27.2%

Latest developments

Perenti (ASX:PRN) announced on 29 September 2026 the award of multiple contracts worth more than A$200 million across its five drilling businesses and its underground mining business, AUMS.

The drilling contracts, awarded in recent weeks for projects across Australia, the USA and Canada, are expected to contribute Revenue of about A$185 million in FY27. AUMS was awarded a contract by Endeavour Mining at the Sabodala-Massawa Mining Complex in Senegal. The contract has two phases: the initial phase, valued at about A$20 million, covers development of the exploration decline and supporting underground infrastructure, and the second phase covers full underground production but remains subject to AUMS receiving notice to proceed at Endeavour's discretion.

Perenti said that, following Endeavour's election to proceed, it will communicate the full value of the Sabodala work to the market. The contracting entity is African Underground Mining Services SUARL, which is 100% owned by Perenti.

Risks and what to watch

The second phase of the Sabodala contract is subject to a notice to proceed at Endeavour's discretion, and the announcement does not state its value. The A$185 million of FY27 drilling revenue is an expected contribution and depends on project timing. The announcement does not provide Margin or Earnings information. Contract awards are separate from reported earnings, which depend on execution, costs and client activity.

Next milestones

Items to watch include Endeavour Mining's notice to proceed on the second phase at Sabodala-Massawa, revenue contribution from the new drilling contracts in FY27, further contract awards, and Perenti's next financial update.

FAQs

Q: What is the consensus analyst rating for Perenti (ASX:PRN)?

A:The consensus rating is Buy, based on 5 analyst recommendations: 5 Buy or equivalent, 0 Hold and 0 Sell or equivalent.

Q: What are the analyst price targets for Perenti (ASX:PRN)?

A:The mean price target is A$2.80, with a highest target of A$3.03 and a lowest target of A$2.66. The share price on 8 October 2026 was A$2.20.

Q: What did Perenti (ASX:PRN) announce on 29 September 2026?

A:Perenti announced contract awards worth more than A$200 million, including about A$185 million of FY27 drilling revenue and an AUMS contract at Sabodala-Massawa with an initial phase valued at about A$20 million.

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