There’s a lot to be optimistic about in the Industrial Goods sector as 2 analysts just weighed in on Bluescope Steel Limited (BLSFF – Research Report) and Reliance Worldwide Corp. Ltd. (RLLWF – Research Report) with bullish sentiments.
Bluescope Steel Limited (BLSFF)
Morgan Stanley analyst Andrew Scott maintained a Buy rating on Bluescope Steel Limited today and set a price target of A$24.00. The company’s shares closed last Monday at $12.12.
According to TipRanks.com, Scott is a 3-star analyst with an average return of 5.0% and a 53.4% success rate. Scott covers the Basic Materials sector, focusing on stocks such as Incitec Pivot Limited, James Hardie, and Orora Ltd.
Currently, the analyst consensus on Bluescope Steel Limited is a Moderate Buy with an average price target of $13.16, representing a -3.3% downside. In a report released yesterday, Citigroup also maintained a Buy rating on the stock with a A$19.50 price target.
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Reliance Worldwide Corp. Ltd. (RLLWF)
In a report released today, Peter Wilson from Credit Suisse maintained a Buy rating on Reliance Worldwide Corp. Ltd., with a price target of A$4.30. The company’s shares closed last Friday at $2.33.
According to TipRanks.com, Wilson is a 2-star analyst with an average return of 0.2% and a 35.6% success rate. Wilson covers the Basic Materials sector, focusing on stocks such as Fletcher Building Limited, Boral Limited, and James Hardie.
Reliance Worldwide Corp. Ltd. has an analyst consensus of Moderate Buy, with a price target consensus of $2.65, a 13.7% upside from current levels. In a report issued on February 7, UBS also maintained a Buy rating on the stock with a A$4.60 price target.
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