RBS Australia 07/04/2010 1 Buy $3.40 13.7%
Target $3.40 (was $3.45). Rising raw materials costs and strong underlying demand have pushed up Asian steel prices and the broker expects this will continue into FY11, with BlueScope likely to be able to pass through the majority of these cost increases.
There will be a lag with respect to domestic prices matching recent moves in iron ore rates and to reflect this the broker has lowered its FY10 earnings forecasts by about 19%, with its FY11 numbers being reduced only slightly.
The changes to its forecasts mean a minor reduction to price target but as near-term earnings uncertainty clears the broker retains its Buy rating.
Target price is $3.40 Current Price is $2.96 Difference: $0.44
If BSL meets the RBS Australia target it will return approximately 15% (excluding dividends, fees and charges).
broker ratings, page-87
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Last
$20.51 |
Change
0.350(1.74%) |
Mkt cap ! $9.025B | |||
| Open | High | Low | Value | Volume |
| $20.15 | $20.62 | $20.08 | $24.72M | 1.207M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 19859 | $20.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.52 | 2656 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| BSL (ASX) Chart |