what do the big instos have to say, page-6

two more
Merril lynch 70c (own shares as well)
Mac 50c
Merrill Lynch cuts their target price from 150c to 70c. NEUTRAL recommendation. Says they should successfully refinance their debt.


Macquarie has an UNDERPERFORM recommendation and 50c target price. They say “while on our metals price forecasts OZL's assets offer greater value than is currently being reflected in its share price, confidence in debt and equity markets remains very low, and OZL's value proposition may well prove illusory in the event refinancing is unable to be negotiated.