Manufacturing News

Analysts tip rise in Bluescope

Credit Suisse and Deutsche Bank have tipped future growth for Bluescope following the company’s lift in revenue.

On Wednesday Bluescope told analysts it was targeting annual revenue of $3 billion by 2015, around double the revenue it posted in financial year 2012, the Yass Tribune reports.

Following the announcement Deutsche Bank said there was “significant upside potential” in Bluescope and Credit Suisse said shares in the company had an extra 20¢ of hidden value.

Credit Suisse joined other analysts in tipping future growth for Bluescope, and said the hidden value in its stock was a “key near-term and sustainable growth opportunity”.

“The market ascribes no value to this growth profile,” it said.

While Bluescope will post a small loss for its December-half performance this year, the endorsements buoyed hopes that the company may be through the worst of its woes.

While the global financial crisis hurt Bluesope hard in 2010 and 2011, the company returned to profit in financial year 2012, posting a two per cent margin.

Leave a Reply

Send this to a friend