2339 GMT - BlueScope Steel's new bull thinks the Australian company could look to sell assets to shore up its balance sheet at a time when Asian steel spreads look likely to stay lower for longer. Jefferies lifts BlueScope to buy from underperform, and believes most headwinds are reflected in the stock's valuation. Analyst Ramoun Lazar identifies Coated Products Asia as an asset that BlueScope could sell. It thinks that business could attract a price tag of A$800 million-A$1.5 billion. "The ongoing sales process for US Steel and attractive outlook for U.S. steel demand could also present interest in North Star," Jefferies says. "However we would expect a significant premium would be required for BlueScope to consider divestment." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 29, 2025 18:40 ET (23:40 GMT)
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