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SHARECAFE COMMENTARY

IGO - UBS rates the stock as Neutral
BY BROKER NEWS - 10/07/2018 | VIEW MORE BROKER UPDATES

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IGO - INDEPENDENCE GROUP NL


Independence Group's Nova mine missed June quarter production guidance due to a processing issue that will be sorted during a scheduled maintenance outage. Nova missed in March, too, but the broker always saw guidance as optimistic and has a forecast at the lower end of the range.

The broker is very keen on the nickel story, based on the EV growth story, but retains Neutral on valuation. Target unchanged at $5.20.

Sector: Materials.

Target price is $5.20.Current Price is $5.05. Difference: $0.15 - (brackets indicate current price is over target). If IGO meets the UBS target it will return approximately 3% (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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