From Credit Suisse.I dont hold just thought the holders may be...

From Credit Suisse.I dont hold just thought the holders may be interested.

BLY - BOART LONGYEAR LIMITED
Credit Suisse rates BLY as Underperform - Target $0.35 (was $0.15). With a refinancing required the broker expects a material equity raising to accompany any such move, factoring in a raising of around $300m.
While such a move would give the company some breathing room, the broker continues to see the stock as a high risk play, and so while an equity raising would provide a boost to earnings in FY10 via lower debt levels, it retains its Underperform rating on the stock.

Target price is $0.35 Current Price is $0.37 Difference:($0.02) - (brackets indicate current price is over target). If BLY meets the Credit Suisse target it will return approximately - 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in December. Credit Suisse forecasts a full year FY09 dividend of 0.00 cents and EPS of 2.32 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.92.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values. Market Sentiment: -0.2