Why the BlueScope Steel (ASX:BSL) share price is up 8% in a week
During this week, the steel producing company released its preliminary unaudited results.
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ASX 200 midday update: BlueScope & OZ Minerals updates impress
Here’s what is happening on the ASX 200 today…
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.
This follows a speech from
Telstra Corporation Ltd(ASX: TLS) CEO Andy Penn at the National Press Club on Thursday. Mr Penn spoke as the chairman of the federal government’s Cyber Security Industry Advisory Committee.
ASX 200 companies greatest cyber threat
In the speech, Penn warned the rise of more sophisticated supercomputers and artificial intelligence (AI) could be one of the greatest threats to Australia’s cybersecurity. Telstra’s boss went on to say:
Because more abundant and better resourced cybercriminals, cyber activists, and increasingly involved in nation-state actors, means that Australia and Australians are quite literally under constant cyberattack
Image source: Getty Images
Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
According to a note out of
Morgan Stanley, its analysts have upgraded this steel producer’s shares to an
overweight rating with an improved price target of $27.00. The broker made the move on the belief that current steel spreads will lead to consensus earnings upgrades and put the company in a position to consider capital management initiatives. In response to the favourable trading conditions, Morgan Stanley has upgraded its earnings forecasts materially for the coming years. The BlueScope share price is fetching $21.49 today.