Target $9.13 (was $8.52). RBS Australia has revised commodity price forecasts and the changes have flowed through to revisions to earnings estimates and price targets across the resources sector.
For Kingsgate the end result is an increase in price target and the improved value on offer sees RBS upgrade to a Buy rating.
Target price is $9.13.Current Price is $7.83. Difference: $1.30 – (brackets indicate current price is over target). If KCN meets the RBS Australia target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).