IGO – UBS rates the stock as Buy

By Broker News | More Articles by Broker News

Nova nickel production in the June quarter was -8% below UBS estimates. Copper and cobalt were better-than-expected.

Tropicana gold production was -5% below estimates. UBS prefers IGO for nickel exposure and expects there will be evidence of some benefits from new offtake contracts at Nova in the full report on July 29.

UBS retains a Buy rating and $6.20 target.

Sector: Materials.

Target price is $6.20.Current Price is $5.07. Difference: $1.13 – (brackets indicate current price is over target). If IGO meets the UBS target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →