OZL - UBS rates the stock as Neutral
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The company has announced plans for the development of a 270km transmission line as well as an on-site solar plant at Prominent Hill. The development will also provide power for the future and remove the power bottleneck at Carrapateena.
UBS notes the market has always considered this a long-dated issue and not materially affecting the economics of Prominent Hill. The broker believes the update should be taken positively, as it relieves concerns over long-term power access, albeit not for pricing. Neutral rating and $9.80 target maintained.
Target price is $9.80.Current Price is $9.40. Difference: $0.40 - (brackets indicate current price is over target). If OZL meets the UBS target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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