BSL – Credit Suisse rates the stock as Outperform

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BlueScope Steel has confirmed first half guidance for earnings (EBIT) around $275m. Earnings drivers, including US and Asian steel spreads, are in line with assumptions provided in the original guidance.

Credit Suisse welcomes the update as it brings clarity to some key areas of risk. Outperform rating and $15.30 target maintained.

Sector: Materials.

Target price is $15.30.Current Price is $14.64. Difference: $0.66 – (brackets indicate current price is over target). If BSL meets the Credit Suisse target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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