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What? Macquarie's target at 46 cents? Given that target prices...

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vmp

13,225 Posts.

9030

13/04/17

20:56

Post #: 24069747
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Originally posted by yanlin ↑

A bit more from the Macquarie Research report that could explain (partly) why GXY had a better day than PLS:

Changes to our earnings forecasts, recommendations and target prices
 We have updated our models for GXY, PLS, AJM, SYR and MNS to include recent 1HFY17 and full-year CY16 financials. We note that none of these companies yet have material earnings. We have made a number of changes to our graphite prices which results in a ~25% reduction to our long-term earnings forecasts for SYR and MNS.
 We make only one change to our recommendations upgrading GXY to Neutral with a target price of $0.46/sh as we expect it to continue to benefit from strong pricing in FY17 and FY18. We cut our target price for PLS to $0.38/sh after bringing our valuation methodology back to 1x NPX in line with our other hard rock lithium names. We lower target price for SYR to $3.60/sh and MNS to $1.05/sh on our reduced graphite pricing forecasts.

Source: Macquarie Research, April 2017 - Australian Battery Materials

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What? Macquarie's target at 46 cents? Given that target prices are meant to be prices in 12 months, we might as well pack up and go home if we'd suddenly believe them. Come on Macquarie, when will you stop being a fool?

Last edited by vmp: 13/04/17

GXY Price at posting: 42.5¢ Sentiment: Hold Disclosure: Held
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