p.s. don't forget .28 fully franked div for late sept.
Happy trading
Today; from MRE...
BSL: Super Steel!
Macquarie Research Equities (MRE) have upgraded their earnings and price targets for Bluescope Steel (BSL) on the back of rising steel price forecasts. BSL’s share price has continued to outperform the market for the past year on the back of sustained global demand for steel. MRE maintain retain their outperform recommendation and have raised their 12 month price target to $9.89.
MRE lifted their full year 2005 forecast for Hot Rolled Coil to US$548/t (was US$455/t), and 2006 estimate to US$405/t (was US$368/t). The following adjustment lifted BSL's 2005 earnings estimates by 21.4%, and 2006 estimates by 16.2%.
Record steel prices remain the key driver for BSL’s share price. Market commentators believe steel prices will be supported at these levels by:
Strong global demand driven by China and the US,
Raw materials prices remain high,
Steal inventories remain around historically low levels in the US, Asia and Europe.
MRE have raised their 12 month price target from $8.80 to $9.89, and retain their outperform recommendation. MRE believe higher steel prices in 2005 will trigger a renewed enthusiasm for steel stocks.
will rise to new levels
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Last
$21.53 |
Change
0.310(1.46%) |
Mkt cap ! $9.474B | |||
| Open | High | Low | Value | Volume |
| $21.45 | $21.74 | $21.32 | $26.68M | 1.238M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5304 | $21.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.55 | 5000 | 1 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| BSL (ASX) Chart |