Although strong, the June quarter production missed guidance on expectations. Morgan Stanley suspects guidance, in the first place, was too high.
The company is positive about FY20 but has not provided guidance as yet (expected on August 1).
Underweight rating. Industry view is Attractive. Target is $7.15.
Target price is $7.15.Current Price is $12.94. Difference: ($5.79) – (brackets indicate current price is over target). If NST meets the Morgan Stanley target it will return approximately -81% (excluding dividends, fees and charges – negative figures indicate an expected loss).