GenusPlus Group (ASX:GNP) looks set for a sustained period of strong growth with several large-scale multiyear projects, over a range of geographies and services ramping up over 2026 and 2027, Euroz Hartleys said in a note on Wednesday.
The firm was awarded three contracts with Fortescue (ASX:FMG), which have a combined value of around AU$60 million, and are planned to be completed in the December quarter of 2026. The contracts were awarded for the construction of 220 kilovolts of transmission lines, the design and construction of around 30 kilometers of overhead power distribution infrastructure, as well as the construction of fast chargers and pit power facilities at Fortescue's various projects.
It was also awarded an additional contract within Western Power's Clean Energy Link North project, worth AU$50 million, as well as a new contract for the Network Renewal Undergrounding power project package, valued at around AU$25 million.
The investment firm recommended a buy rating and maintained its price target of AU$5.55 per share, currently under review.
