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BSL - UBS rates the stock as Buy
BY BROKER NEWS - 16/05/2018 | VIEW MORE BROKER UPDATES

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BSL - BLUESCOPE STEEL LIMITED


BlueScope has upgraded second half earnings guidance as expected, given rising steel spreads in the US. But the 12% increase only serves to bring guidance in line with consensus forecasts, the broker notes.

The company did not provide a new spread estimate but the broker notes if current spot prices were to hold for another six weeks, and accounting for a typical one month lag, this would imply further upside to guidance. Meanwhile, ASEAN building products are performing poorly but this is election-related and should prove temporary.

Buy retained, target rises to $20.50 from $18.75.

Sector: Materials.

Target price is $20.50.Current Price is $17.78. Difference: $2.72 - (brackets indicate current price is over target). If BSL meets the UBS target it will return approximately 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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