In the good books
Base Resources (BSE) Upgraded to Speculative Buy from Hold by Ord Minnett B/H/S: 1/0/0
Ahead of the release of the December quarter production report, Ord Minnett analysts have upgraded to a Speculative Buy, while lifting the price target to 34c from 25c. The view is that balance sheet risk is more than accurately reflected in the weaker share price.
Ord Minnett believes the pricing outlook for ilmenite continues to strengthen and this will assist in debt reduction. The analysts are toying with the idea of accelerated de-leveraging if price momentum builds as they expect it will.