BSL

Blue Scope Steel (BSL) held their 2006 AGM yesterday. The company reported a good start to the year with net profit for the first four months of more than $250 million. Chairman Graham Kraehe said all of BlueScope's reporting segments were profitable over the period. "The first four months trading for Bluescope has been encouraging, continuing the positive July performance," he told shareholders. Macquarie Research Equities (MRE) claims that these comments in regard to the first four months of trading were positive and believe there will be net upgrades.

BlueScope Steel (BSL) has a Reduce 2 stock recommendation with a price target of $6.20 from investment banker and stock analyst UBS. UBS values the steelmaker at $7.66 based on DCF and their share price target is based on 15 percent premium to global peers' FY07 EV/EBITDA.

UBS has a Reduce 2 share recommendation for the BlueScope Steel (BSL) stock with a share price target of $6.20 (down 40 cents). They have downgraded their stock rating for BSL as a result of pricing concerns. Domestic Chinese iron ore production growth has maintained its aggressive pace which presents supply side risks to the price of iron or and steel within China and globally. The stockbroker expects the Blue Scope Steel (BSL) stock will continue to trade lower as steel prices deteriorate. Potential positive catalysts for the share price would be news of production cutbacks.

UBS has maintained their Neutral 2 recommendation for the BlueScope Steel (BSL) stock with a share price target of $8.25. Their valuation is $8.40 under DCF. BlueScope Steel Limited is listed on the Australian Stock Exchange (ASX) under stock code BSL. A recent recommendation for the company. You can view their investor website here. Their principal activity is in the manufacturing of steel. Check your charts!

Credit Suisse have downgraded their stock price recommendation to Underperform for Bluescope Steel (BSL) given recent share price movements.

Bluescope Steel Limited is listed on the Australian Stock Exchange (ASX) under stock code BSL. You can view their investor website here. The company is principally involved in steel manufacture. Check your charts!