"...We have revised our recommendation to a HOLD with a price target of $0.53/sh given the outcome of sale.
We highlight an upside case of $0.63/sh should AZZ avoid tax on the proceeds and the significant upside to be realised from the ongoing drilling of the term assignment area. ...."
If Patersons downgraded AZZ to a hold when the share price was around 47-48 cents, then what would their recommendation be when the share price hit the low today of 41 cents.
With a target of between 53 cents and 63 cents, it must be a screaming buy.
AZZ Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
