JPMorgan downgraded Bluescope Steel to Neutral from Overweight with a A$23 price target. Following a positive share price move, Bluescope looks to have already partly priced in a steel market recovery and the firm downgrades to Neutral ahead of its results due August 19, stating that it will look again for “a cheaper entry point to get more constructive.”
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLSFY: