JP Morgan 18/03/2010 1 Overweight $3.40 18.9%
JP Morgan now expects JFY10 iron ore prices to rise 65%, from a previous 20% assumption.
This effectively front loads increases in the current cycle, the analysts say.
While the BSL share price has already reflected some of the positive sentiment, JP Morgan sees it as undervalued compared to the rest of the sector and views BSL as its preferred Australian steel stock.
FY10 profit forecasts fall by 0.1%, FY11 by 0.2% and FY12 by 9.5% on a higher AUD, higher coking coal and iron ore prices.
bluescope where to now, page-6
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$20.06 |
Change
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Mkt cap ! $8.827B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.21 | $19.86 | $42.06M | 2.094M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6052 | $20.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.08 | 622 | 1 |
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