BlueScope Steel (ASX:BSL) North Star production is a net beneficiary of new Trump administration policies as increased demand for local US steelmaking will benefit the company, Jarden said in a Thursday note.
The research firm revised its second-half earnings before interest and tax to AU$451 million, which is above the company's guidance of up to AU$430 million.
The company has proven itself an "effective" capital allocator and operator, which justifies its above-net tangible asset valuation.
Jarden rated the company overweight and increased its price target to AU$24 from AU$23.20.
The company's shares rose 2% on market close.
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