0240 GMT - The planned acquisition of Radius Recycling by a U.S. unit of Toyota Tsusho at a roughly 115% premium looks positive for ASX-listed metals recycler Sims, says Citi analyst Paul McTaggart. The Radius deal represents an EV/Ebitda multiple of 7.4X on 2027 estimates and a trailing three-year multiple of 8.3X, based on Visible Alpha consensus, says McTaggart. "We see this as a positive read-across for SGM with SGM trading on FY27 EV/Ebitda of 3.4X," he says. Citi has a neutral rating and A$15.50 target on Sims. The stock is up 4.7% at A$14.45. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 13, 2025 22:40 ET (02:40 GMT)
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