Westpac upgrades to Accumulate. LYC is speculative. We increase our valuation to A$0.73ps. The ‘perfect storm’ of a structural shortfall in supply, fiscal imposts and very strong growth in demand could deliver substantial gains. Our long term basket price assumption is raised from US$5.00/kg to US$7.50/kg, in line with the 10-year average. The actual basket price increased to US$8.27/kg in 2Q07, a 67% rise over the year from US$4.96/kg, and is currently in excess of US$9/kg. We retain our long US$/A$ exchange rate of 0.76 and the 15% discount rate. Lowering the discount rate to 10% increases the valuation to $1.07ps.
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Last
$6.10 |
Change
-0.160(2.56%) |
Mkt cap ! $5.701B |
Open | High | Low | Value | Volume |
$6.14 | $6.16 | $6.02 | $31.69M | 5.119M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 23252 | $6.09 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.10 | 23221 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 23252 | 6.090 |
2 | 570 | 6.060 |
2 | 2048 | 6.050 |
5 | 5726 | 6.030 |
5 | 28527 | 6.020 |
Price($) | Vol. | No. |
---|---|---|
6.140 | 20000 | 2 |
6.150 | 1600 | 1 |
6.190 | 3000 | 1 |
6.200 | 2642 | 2 |
6.220 | 3000 | 1 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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LYC (ASX) Chart |