S32 - Deutsche Bank rates the stock as Sell
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December quarter production improved modestly in copper equivalent terms and was slightly ahead of Deutsche Bank's forecasts.
Carrington disappointed the broker because of lower grades while manganese stood out, increasing around 20% quarter on quarter to meet strong demand.
FY18 production guidance is maintained. Deutsche Bank retains a Sell rating on valuation. Target is $3.10.
Target price is $3.10.Current Price is $3.92. Difference: ($0.82) - (brackets indicate current price is over target). If S32 meets the Deutsche Bank target it will return approximately -26% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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