BUZZ-Morgan Stanley says US tariffs could benefit Australia's BlueScope Steel

Reuters
03-17
BUZZ-<a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> says US tariffs could benefit Australia's BlueScope Steel

** Shares of BlueScope Steel BSL.AX rise 2.9% to A$23.24

** Morgan Stanley says low Asian flat steel prices could prompt imports into the U.S., even with a 25% tariff, which would benefit co's operations there

** BSL's North Star Steel in the U.S. makes up ~21% of the firm's total revenue

** However, notes that added capacity coming online in U.S. steel market between 2025 and 2027 may not find the demand to match it, potentially affecting co's U.S. positioning

** Morgan Stanley maintains its "Equal-Weight" rating and price target of A$24

** Eight analysts rate the stock "buy" or higher, two "hold" and three "sell"; their mean PT is A$25.68 – LSEG data

** Stock up 24.4% YTD including current session

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))

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