dow jones..credit suisse

[Dow Jones] STOCK CALL: Credit Suisse boosts Bradken (BKN.AU) target to A$5.50 from A$4.20. Expects FY earnings will "broadly reflect trends seen in the 1H" with a sharp decline in volumes and profitability in its U.S. business offset by domestic performance. Expects Bradken to post on Aug. 6 FY net profit of A$61 million, up 6% from a year earlier. "We believe Bradken's outlook is generally improving," reflected by signs of a stabilizing operating environment, a robust rail forward order book, improving U.S. demand and outlook for domestic mining volumes, and lower debt. Keeps at Neutral with stock trading at 11X p/e. "We believe BKN is fair value at current levels." Last trade A$5.10. (ABH)