Sorry to be the bearer of bad tidings but Macquarie Bank research published today has a target of 95c for AWC and an underperform rating. This is all based upon forecast drop in commodity prices for Alumina and Aluminium. Proposed changes to the way that the LME operates are also a contributing factor to the underperform rating.
To confuse matters further Morningstar has it as a strong buy but without any reference to the quite probable headwinds that AWAC and AWC will face in the current over supplied Aluminium market.
Make of this what you will I am just passing on what I have read today and late last week. I suggest the SP weakness today reflected that other people are following the Macquarie Bank info.
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