If anyone is interested here are some broker updates after the...

If anyone is interested here are some broker updates after the AGM... make of them what you will.

Citi rates BSL as Buy (1) -The update at the AGM was better than Citi feared. The company has stated that demand in major markets remains stable and there has been a modest recovery in Australian domestic volumes.As FY20 forecasts appear safe on Citi's estimates, underpinned by firming steel prices and softening Chinese steel production into winter, a Buy rating and $15 target are retained.

Credit Suisse rates BSL as Outperform (1) -BlueScope Steel has confirmed first half guidance for earnings (EBIT) around $275m. Earnings drivers, including US and Asian steel spreads, are in line with assumptions provided in the original guidance.Credit Suisse welcomes the update as it brings clarity to some key areas of risk. Outperform rating and $15.30 target maintained.

UBS rates BSL as Sell (5) -Despite weakening spreads and challenging conditions, BlueScope Steel has reiterated first half earnings (EBIT) guidance, defying forecasts. To UBS, this signals strength in timing and execution, enabling the company to beat estimates of steel spreads.The broker remains cautious, however, as soft Australian detached housing activity means lower volumes of Colorbond sales, which could lead to an increase in low-margin exports. Sell rating maintained. Target rises to $12.40 from $11.94.