BA-Merrill Lynch rates BLY as Buy, High Risk (1) - Target $4.66 (was $4.10). In the broker's view the growth outlook for the company is improving as the demand outlook continues to strengthen. To reflect this the broker has lifted its earnings forecasts through FY12. The changes to its numbers mean an increase in price target. There is no change to the broker's Buy rating on the stock.
Target price is $4.66 Current Price is $3.92 Difference: $0.74 If BLY meets the BA-Merrill Lynch target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in December. BA-Merrill Lynch forecasts a full year FY10 dividend of 5.50 cents and EPS of 18.20 cents . At the last closing share price the estimated dividend yield is 1.40%.
BLY Price at posting:
$3.94 Sentiment: Hold Disclosure: Held
