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BSL - Morgan Stanley rates the stock as Equal-weight

PUBLISHED

2022-02-22

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A brief result update from Morgan Stanley notes BlueScope Steel's earnings and dividend met expectations. Cash flow was up sharply year on year but fell short of forecast.

The buyback has been increased by $500m, leaving $700m to be purchased over 12 months. Where it all falls down is FY earnings guidance -18% below consensus.

Equal-weight and $23.50 targt retained for now. Industry view: In-Line.

Sector: Materials.

 

Target price is $23.50.Current Price is $18.83. Difference: $4.67 - (brackets indicate current price is over target). If BSL meets the Morgan Stanley target it will return approximately 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).