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5.52%

$22.93 bluescope steel limited

BSL Chart, page-42

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92 Posts.

10

21/11/19

11:43

Post #: 41552386
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Originally posted by drg: ↑

Couple of broker downgrades causing a bit of downward pressure today...

Downgrade to Sell from Neutral
UBS is cautious about the recent momentum in steel prices and spreads. US steel prices and spreads have lifted by 8-10% since the trough in late October but the spread remains below the company's first half guidance.During this time the stock has rallied 16%. Rating is downgraded to Sell from Neutral and UBS cuts FY20 estimates for earnings (EBIT) by -17%. Target is reduced to $11.94 from $12.20.

Downgrade to Equal-weight from Overweight
Morgan Stanley believes the recent strength in the share price more than accounts for the positive momentum in steel prices. The broker believes investors should capitalise on the strength in the share price and downgrades to Equal-weight from Overweight.Earnings (EBIT) forecasts are reduced by -9% for FY20 and -16% for FY21. While an improving steel price is positive, further price and spread increases are required to support forecasts. Morgan Stanley reduces the target to $13.50 from $14.00. Industry view: Cautious.

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UBS , u bl--dy stupe, MS, well a disease in itself

BSL Price at posting: $14.11 Sentiment: None Disclosure: Held
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(20min delay)
Last $22.93		Change 1.200(5.52%)		Mkt cap ! $10.06B

Open	High	Low	Value	Volume
$22.46	$23.20	$22.42	$118.2M	5.162M

Buyers (Bids)

No.	Vol.	Price($)
2	8859	$22.92

Sellers (Offers)

Price($)	Vol.	No.
$22.93	2039	1

View Market Depth

No.	Vol.	Price($)
2	8859	22.920
1	2460	22.900
3	2430	22.890
1	1436	22.880
3	2478	22.870

Price($)	Vol.	No.
22.930	2039	1
22.950	5577	1
22.970	4855	1
22.980	2801	1
23.010	2486	1

Last trade - 16.10pm 07/11/2024 (20 minute delay)

BSL (ASX) Chart