Iluka Resources’ September quarter performance looked stronger-than-expected, report Citi analysts, but they are worried about price momentum for both zircon and synthetic rutile with demand from China seen at risk.
Irrespective, the strong quarterly report has triggered (noticeable) upgrades to forecasts. Neutral with a target price of $10.00.
Sector: Materials.
Target price is $10.00.Current Price is $9.68. Difference: $0.32 – (brackets indicate current price is over target). If ILU meets the Citi target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
