ILU - UBS rates the stock as Buy
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The company has held an investor briefing to reinforce market fundamentals and provide an update on its projects.
The company remains confident that tightness in the market will increase and, in the short term, also envisages zircon substitutes having limited application.
The company plans a $40m upgrade to the Jacinth-Ambrosia plant, to increase throughput by around 30%, which should help offset grade decline.
Buy retained. Target is $11.00.
Target price is $11.00.Current Price is $9.57. Difference: $1.43 - (brackets indicate current price is over target). If ILU meets the UBS target it will return approximately 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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