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South32 (S32) Receives a Buy from Jefferies

Tipranks - Tipranks - Mon Apr 13, 7:22AM CDT

In a report released on April 10, Chris LaFemina from Jefferies maintained a Buy rating on South32, with a price target of A$5.20. The company’s shares closed last Friday at A$4.63.

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LaFemina covers the Basic Materials sector, focusing on stocks such as Freeport-McMoRan, Steel Dynamics, and Vale SA. According to TipRanks, LaFemina has an average return of 13.4% and a 54.51% success rate on recommended stocks.

Currently, the analyst consensus on South32 is a Strong Buy with an average price target of p257.53, implying a 5,462.20% upside from current levels. In a report released on April 3, J.P. Morgan also maintained a Buy rating on the stock with a A$5.00 price target.

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Based on South32’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$2.86 billion and a net profit of A$451.14 million. In comparison, last year the company earned a revenue of A$3.19 billion and had a net profit of A$360 million

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