0132 GMT - South32's stock appears to be gaining tailwinds, according to Citi analysts Paul McTaggart and Ephrem Ravi, who upgrade the miner's shares to buy from neutral. They expect improved cash generation in 2H FY 2025, with a working capital unwind and lower unit operating costs on higher production. South32 is also likely to expand buyback activity and, by FY results, update investors on a possible sale of its Cerro Matoso nickel operation. "Investors would likely soon shift their focus to FY27 with yet higher production and our FY27 [copper] price of US$4.76/pound for EV/Ebitda of 3.1x," the analysts say. Citi's target goes to A$4.00 from A$3.90. South32 is up 1.1% at A$3.61/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 13, 2025 20:32 ET (01:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。