Now could be a good time to buy the ASX All Ords stock in this article.
That's the view of analysts at Bell Potter, who are tipping it as a buy following its half-year results.
Which ASX All Ords stock?
The stock in question is Mader Group Ltd (ASX: MAD).
It is a leading provider of specialised contract labour for maintenance of heavy mobile equipment in the resources and civil industries.
As well as its core market, Bell Potter notes that it is currently pursuing growth opportunities in large addressable markets. This includes in the United States mining and energy markets.
Bell Potter highlights that Mader's performance in the first half of FY 2026 was slightly softer than expected due to weaker margins. However, improvements are expected in the second half. It said:
MAD delivered Group revenue of $485m (BPe $488m), up 18% YoY. At the divisional level, Australia revenue was $385m (BPe $384m), up 19% YoY, North America delivered revenue of $90m (BPe $91m), up 13% YoY, and RoW revenue was $10.6m (BPe $12.6m), up 36% YoY. Group EBITDA of $56.2m (BPe $61.0m) grew 9% YoY, with weaker than expected margins across the segments: Australia 11.1% (vs BPe 12.1%); North America 17.0% (vs BPe 19.1%); and RoW 14.2% (vs BPe 16.0%).
Australia and North America profitability is anticipated to improve in 2H FY26 as revenue lifts quicker than the respective segment's cost bases. The interim dividend was deferred to bring forward achievement of net cash (excluding leases) to support the company's financial position before it embarks on a "more aggressive approach to organic and inorganic growth opportunities.
Should you invest?
The broker sees value in the ASX All Ords stock at current levels. In response to its results, the broker has upgraded its shares to a buy rating with an improved price target of $9.70 (from $9.00).
Based on its current share price of $8.16, this implies potential upside of 19% for investors over the next 12 months.
Commenting on its buy recommendation, the broker said:
Our Target Price lifts on a roll forward of our segment DCF models and a lower WACC. The 1H FY26 result puts MAD on track to achieve FY26 NPAT guidance of >$65.0m (BPe $67.3m new; VA $67.6m). MAD continues to expand rapidly into adjacent markets in Australia and convert well on business development opportunities across North America, with labour recruitment and deployment into the region the key constraint. Disclosure of MAD's next 5-year strategy represents a near-term catalyst.
The post Bell Potter says this ASX All Ords stock is a top buy appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Mader Group. The Motley Fool Australia has positions in and has recommended Mader Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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