NST - Deutsche Bank rates the stock as Hold
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Northern Star's June Q production came in 25% ahead of Deutsche Bank thanks to an excellent quarter at Jundee featuring a 50% grade increase. The FY17 result will come in at the top end of guidance.
The broker believes a more muted FY18 guidance range is conservative given a number of short term catalysts ahead, such as the Kalgoorlie plant extension study and reserve upgrade. The company's August strategy day awaits. A target increase to $4.40 from $4.30 prompts an upgrade to Hold.
Target price is $4.40.Current Price is $4.81. Difference: ($0.41) - (brackets indicate current price is over target). If NST meets the Deutsche Bank target it will return approximately -9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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