BSL - Bluescope Steel

[alex90]

I subscribe to an investing website and 10 brokers predict the 12 month target price of BSL to be ~$2.738. With the current sp sitting fairly close to this value, one wouldn't expect much gain in the coming months and thus it may be wise to sell soon. Is this a correct interpretation?
Cheers

 

[prawn_86]

I subscribe to an investing website and 10 brokers predict the 12 month target price of BSL to be ~$2.738. With the current sp sitting fairly close to this value, one wouldn't expect much gain in the coming months and thus it may be wise to sell soon. Is this a correct interpretation?
Cheers

It depends on if you believe the brokers or not. Go have a look at some of their historical picks and find out if they are actually any good (most arnt).

I have no idea either way about BSL though

 

[M34N]

I subscribe to an investing website and 10 brokers predict the 12 month target price of BSL to be ~$2.738. With the current sp sitting fairly close to this value, one wouldn't expect much gain in the coming months and thus it may be wise to sell soon. Is this a correct interpretation?
Cheers

I've noted in the past few months (I think at least once in a post a while back, might have to dig it up) that BSL has major resistance at 2.70 price range, which is pretty close to where it is now (2.67 at present). I personally just dumped over half my holdings from the capital raising just today for nice profits, but will wait and see if the 2.70 resistance holds or is smashed though, ala Fortescue with its 3.00 range a week ago.

I applied for more than 3 times my original allocation and got them all, so pretty happy with how this one has turned out into a 70% profit within a week. Can't argue with that.

 

[M34N]

Wow, nice close at the end there, bidded up from 2.68 up to 2.72 a few minutes before the pre-close, then shot up to 2.75 at the close.

There goes that 2.70 resistance I mentioned... glad I held some of it!

 

[alex90]

So now that it has broke through the resistance at $2.70, wat would your thoughts be? Is there long term potential for BSL to return to the glory days of $10.00 + :

 

[sitk]

I think $10.00 is not likely at all, considering that the steel price is still severly depressed from where it was at its peak in 2008. Also, as commodity prices rise, input iron ore costs will also rise. So why I still think there's upside to BSL, $10 is no where near what I would consider its fair value.

 

[alex90]

I guess it is kinda hard to convey sarcasm in words!
Obviously $10 is excessive and unlikely, what would you consider a likey target for BSL be?

 

[bonkerrs]

I think $10.00 is not likely at all, considering that the steel price is still severly depressed from where it was at its peak in 2008. Also, as commodity prices rise, input iron ore costs will also rise. So why I still think there's upside to BSL, $10 is no where near what I would consider its fair value.

Not in the near future maybe. But who can definitively predict what is to come. I have plans on holding my BSL shares long term (my only long term ones) and $10 sounds pretty dam good to me.

 

[esolano]

I read that "BlueScope was raised to a “buy” from “neutral” and had its price target boosted 38 percent to A$3.45 ($2.75) by UBS analysts led by Mark Busuttil in a report yesterday". Quoting Bloomberg today.

What do they mean when they say price target? Are they saying that they are expecting it to rise, if so when? How are they getting these figures?

 

[skyQuake]

I read that "BlueScope was raised to a “buy” from “neutral” and had its price target boosted 38 percent to A$3.45 ($2.75) by UBS analysts led by Mark Busuttil in a report yesterday". Quoting Bloomberg today.

What do they mean when they say price target? Are they saying that they are expecting it to rise, if so when? How are they getting these figures?

..through the ancient and mysterious art of fundamental analysis, analysts trawl through balance sheets and pull figures out of a hat...

 

[makingmoney]

BSL-the next hot stock?

BSL (BLUESCOPE)been day trading for the past five years..but has anyone else noticed bsl as a under-valued stock and noticed of the last few months the volume traded recently (in excess of $60 million per/day) altho been placed in the top asx50..its volume of trading per/day would rival the top 20asx(xao).I recently done alot of research on p/e ratio and its asset value currently @ $3.43,the share currently in the last few days trading between 2.37-2.55 p/s i realise the value has come down from its highs of mid $9per/share..lol as the rest in the market besides the defensive caps..Can any one here see why this stock seems so undervalued?OR any insight about this stock? Meh personally think this BSL is a hot stock in the next 12months)..PLease note: you should always do ur own homework before purchasing stock and this stock is a personal opinion..)

 

[lucifuge]

Re: BSL-the next hot stock?

BSL (BLUESCOPE)been day trading for the past five years..but has anyone else noticed bsl as a under-valued stock and noticed of the last few months the volume traded recently (in excess of $60 million per/day) altho been placed in the top asx50..its volume of trading per/day would rival the top 20asx(xao).I recently done alot of research on p/e ratio and its asset value currently @ $3.43,the share currently in the last few days trading between 2.37-2.55 p/s i realise the value has come down from its highs of mid $9per/share..lol as the rest in the market besides the defensive caps..Can any one here see why this stock seems so undervalued?OR any insight about this stock? Meh personally think this BSL is a hot stock in the next 12months)..PLease note: you should always do ur own homework before purchasing stock and this stock is a personal opinion..)

However good a stock it is, it's subject big-time to the current 'China syndrome' so naturally there's a lot of hesitation surrounding it. Personally I think it's good stock and I would like to buy, but only when I'm confident the price is right.

 

[trainspotter]

Purchased BSL in late May on the back of them being awarded a government contract to supply steel for the Navy ships yet to be built. $2.35 a piece. Went to $2.65 mid June. Currently trading at $2.29 and dropping. Profit takers for June 30th deadline was the issue. Still think it should be one to keep in the drawer for the moment.

 

[makingmoney]

bsl..nice rebound

well in the last thread i mentioned bsl was a stock about 2 move..i did mention it as a hot stock undervalued @ 2.26 2wks ago...cause i just made a killing and sold now right after the re-opening of the blast furn..well 20% profit 4 2 wks isnt bad...i still think its undervalued baised on its value asset wise @ 3.43..well but i wait after the next 2wks of reports tho first...hope u did jump on my tip posted a fortnight ago..l8tr all

 

[trainspotter]

Congrats Makingmoney ... sold mine today at $2.75. Had them in the drawer. Read previous post. Not sure why they spiked when they announced a $140,000,0000 LOSS????????

 

[MACCA350]

Congrats Makingmoney ... sold mine today at $2.75. Had them in the drawer. Read previous post. Not sure why they spiked when they announced a $140,000,0000 LOSS????????

They also announce the restart of No5 blast furnace due to increased demand. They also completed refinancing and are covered for the next 2-3 years. They had already made shareholders aware of a possible loss back in Feb, so the announced loss may well have been mostly factored in.

cheers

 

[johannlo]

Yes there was a lot of bad news known about BSL (idle furnace, lots of maintenance costs, stockpiles etc. ) factored in, even now the price is undervalued.

The loss was expected, finance sorted in medium term and restarting furnace / china+us news = good signs.

 

[makingmoney]

yeah agreed with the last two previous threads,that with the restarting of the no #5 blast furnace means there got a lot of upcoming orders 2 met,altho selling i think the stock is still undervalued,but in saying that i have a gut feeling in the next few weeks of a down turn so i wait 2 rebuy in when the market bottoms...and grats trainspotter on sale of 2.75

 

[trainspotter]

And still it continues to rise. Up another 7 cents to $2.84. I see a derailment coming up soon. Hopefully only a few carriages will fall off.

 

[giasing]

what happened to price. it went up to $2.91 thhen fell back to the lowest day at $2.8. will this stock start to fall back?