ASL – Deutsche Bank rates the stock as Buy

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Ausdrill has announced a three-year extension of the equipment hire contract with Peabody at $126m. Deutsche Bank suspects there was likely to be a marginal price increase to reflect tighter equipment availability and potentially better terms.

Buy rating and $2.04 target maintained.

Sector: Materials.

Target price is $2.04.Current Price is $1.47. Difference: $0.57 – (brackets indicate current price is over target). If ASL meets the Deutsche Bank target it will return approximately 28% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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