BUZZ-Jefferies cuts PT for BlueScope, Morningstar holds view as SGH deal looms
SMART Global Holdings, Inc. SGH | 20.85 | 0.00% |
Morningstar, Inc. MORN | 172.91 | +2.19% |
Blackstone Senior Floating Rate 2027 Term Fund Shs of Benef Interest BSL | 12.70 | -1.01% |
** Jefferies cut price target for Australia's BlueScope BSL.AX to A$35 after lowering 2H26, FY27 EBIT outlook due to a weak Australian Steel Products (ASP) environment, adding that stock's near-term direction hinges on SGH's SGH.AX next move after BSL rejected its initial bid
** Jefferies said the company’s 2H26 outlook was below expectations, mainly due to weaker ASP pricing
** Meanwhile, Morningstar maintained its fair value estimate at A$27, 4.8% below last close, assuming a 50% chance of a deal around A$30, but valuation would revert to A$24 stand-alone if no deal proceeds
** Morningstar noted second-half guidance was stronger than expected, helped by higher U.S. spreads and volumes
** Six of eight analysts rate the stock "buy" or higher and two "hold" with a median price target of A$30.75, as per data compiled by LSEG
** Up 21.7% YTD, as of last close