Sims Ltd. upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Paul Young upgraded Sims Ltd. (SMSMY) to Neutral from Sell with a price target of A$20, up from A$16.30. One of the key positive takeaways from the company’s recent first-half result was the 130% increase in Sims Lifecycle Services EBITDA, thanks to higher computer chip prices and resale volumes as well as hyperscaler service fees with major customers, the analyst tells investors in a research note.