IGO – UBS rates the stock as Buy

UBS thinks IGO has made a “shrewd” acquisition of an interest in Tianqi’s lithium assets.

The broker is impressed with the tier-1 asset Greenbushes mine and believes that the opportunity to buy tier 1 assets is rare in any commodity.

Buy retained. Target rises to $8 from $7.50.

Sector: Materials.

 

Target price is $8.00.Current Price is $6.52. Difference: $1.48 – (brackets indicate current price is over target). If IGO meets the UBS target it will return approximately 19% (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 →