0925 Dow Jones STOCK CALL: Macquarie Research reiterates its Outperform rating on Incitec Pivot (IPL.AU). Reckons recent commentary from Incitec rival Mosaic supports the view that markets are improving, with di-ammonium phosphate prices recently reaching a nine-month high. Analyst says IPL is currently trading above Macquarie's A$3.61 target price, "although we believe earnings risks are shifting to the upside, given the strength in DAP prices." Also says Australian dollar domestic DAP prices are now on the rise, with list prices now at A$588 a metric ton. "With spot prices around US$380/ton and indications that prices may rise further to US$400-410/ton in the short term, there could be some upside to our US$350/ton average DAP price assumption in FY10," analyst says. "A US$10/ton change in DAP price is A$13.7 million at the EBIT line, by our estimates. Hence a A$50/ton DAP increase would result in a A$68 million EBIT lift or A$48 million net profit lift, which represents 14% of our A$332 million FY10 net profit forecast." IPL last at A$3.69. (LMF)
0925 Dow Jones STOCK CALL: Macquarie Research reiterates its...
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Last
$2.90 |
Change
0.020(0.69%) |
Mkt cap ! $5.632B | |||
| Open | High | Low | Value | Volume |
| $2.92 | $2.92 | $2.88 | $5.539M | 1.910M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 87153 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.91 | 51988 | 3 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| IPL (ASX) Chart |