BDR - Macquarie rates as Neutral
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December quarter production was weaker than Macquarie forecast. The mill upgrade is the key catalyst over the next six months and the broker is encouraged by the exploration, although a tweaking of production is required before the company can realise the full potential.
Neutral maintained. Target is reduced to $0.14 from $0.20.
Target price is $0.14.Current Price is $0.14. Difference: $0.00 - (brackets indicate current price is over target). If BDR meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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