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South32 (S32) Receives a Buy from Morgan Stanley

Tipranks - Tipranks - Mon May 4, 8:44PM CDT

Morgan Stanley analyst Rahul Anand maintained a Buy rating on South32 on May 1 and set a price target of A$4.85. The company’s shares closed last Friday at A$4.12.

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According to TipRanks, Anand is a 5-star analyst with an average return of 15.8% and a 57.57% success rate. Anand covers the Basic Materials sector, focusing on stocks such as South32, Lynas Rare Earths , and PLS Group.

South32 has an analyst consensus of Strong Buy, with a price target consensus of p251.07, implying a 5,993.93% upside from current levels. In a report released yesterday, Citi also maintained a Buy rating on the stock with a A$5.40 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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