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ILU – Credit Suisse rates the stock as Neutral

Credit Suisse retains its Neutral rating and $9 target price.

A change in mining method now allows Iluka Resources to declare a resource estimate for Wimmera. Credit Suisse feels this is an incremental positive and retains its Neutral rating and $9 target price.

The Eneabba Rare Earth refinery now becomes financially viable, as a large Wimmera mine is needed as backup for the small Eneabba reserve, explains the analyst.

Sector: Materials.

 

Target price is $9.00.Current Price is $8.80. Difference: $0.20 – (brackets indicate current price is over target). If ILU meets the Credit Suisse target it will return approximately 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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