BlueScope Steel (BSL) Share Recommendation

UBS has a Reduce 2 share recommendation for the BlueScope Steel (BSL) stock with a share price target of $6.20 (down 40 cents). They have downgraded their stock rating for BSL as a result of pricing concerns. Domestic Chinese iron ore production growth has maintained its aggressive pace which presents supply side risks to the price of iron or and steel within China and globally. The stockbroker expects the Blue Scope Steel (BSL) stock will continue to trade lower as steel prices deteriorate. Potential positive catalysts for the share price would be news of production cutbacks. UBS has a DCF-based valuation of $7.62.

BlueScope Steel Limited is listed on the Australian Stock Exchange (ASX) under stock code BSL. You can view their investor website here. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. A previous BlueScope Steel (BSL) share recommendation. Check your charts and good luck with your share trading!