UBS reiterates its Buy recommendation on the stock, highlighting the fact Boart is trading at a 40% discount to its peers.
The broker points out the company has solid earnings leverage to a recovery and that the share price does not reflect the removal of capital risk.
Earnings forecasts increase by 2%+ from FY10 forwards due to expectations of a weaker USD. Sector: Capital Goods.
Target price is $0.45.Current Price is $0.31. Difference: $0.14 - (brackets indicate current price is over target). If BLY meets the UBS target it will return approximately 31% (excluding dividends, fees and charges - negative figures indicate an expected loss).
BLY Price at posting:
$3.35 Sentiment: Buy Disclosure: Held
