AWC - Deutsche Bank rates the stock as Hold
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Given greater confidence for smelter curtailments in China and discipline among ex-China producers, Deutsche Bank now expects the global aluminium market to shift into material deficit in the second half of this year through to 2019.
On the back of a tighter market the broker upgrades aluminium price forecasts by 11% for the second half and by 12% for 2018. The broker also raises alumina price forecasts by 5% for the second half, to US$330/t, and by 7% for 2018, to US$320/t.
Hold retained. Target is raised to $2.15 from $1.95.
Target price is $2.15.Current Price is $2.22. Difference: ($0.07) - (brackets indicate current price is over target). If AWC meets the Deutsche Bank target it will return approximately -3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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