IGO - Macquarie rates the stock as Neutral
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A strong Dec Q production performance from Tropicana was offset by weakness at Nova, Jaguar and Long, the broker notes. Earnings were lower than expected in the quarter and net debt higher.
Independence has retained guidance, expecting Tropicana to ease off but Nova to bounce back. Neutral and $4.70 target retained.
Target price is $4.70.Current Price is $5.09. Difference: ($0.39) - (brackets indicate current price is over target). If IGO meets the Macquarie target it will return approximately -8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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