CSR - Citi rates the stock as Neutral
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Citi reviews aluminium and FX forecasts and maintains FY17 EBIT estimates unchanged. FY18 and FY19 EBIT estimates rise by 13% and 8% respectively.
The target is raised to $4.32 from $4.30, as the broker observes the company has been inactive in its share buy-back since September.
Due to this inactivity, and despite a 6.2% dividend yield, the broker's recommendation is downgraded to Neutral from Buy.
Target price is $4.32.Current Price is $4.50. Difference: ($0.18) - (brackets indicate current price is over target). If CSR meets the Citi target it will return approximately -4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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