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AZJ - Aurizon Holdings News Story

A$3.77 0.0  0.8%

Last Trade - 7:11am

Sector
Industrials
Size
Large Cap
Market Cap £3.68bn
Enterprise Value £5.66bn
Revenue £1.60bn
Position in Universe 86th / 1952

BUZZ-Jefferies says replacing Chinese coal volumes highlights Aurizon's 'resilience'

Tue 13th July, 2021 11:24pm
** Brokerage Jefferies says replacing coal exports to China
with other markets highlights resilience of rail services
operator Aurizon Holdings'  AZJ.AX  earnings, cash flow and
quality of Australian coal
    ** Jefferies says North Queensland Bulk Ports Corporation's
coal export volumes for June were down 2.3% compared with a year
earlier
    ** Brokerage, however, says despite drop in export volumes,
replacement of Chinese export tonnes to new markets is complete,
despite record pricing levels
    ** Adds that in context of Chinese volumes that have been
replaced, a 0.4% drop in coal volumes for Q4 2021 compared to a
year earlier is a "stronger-than-expected result"
    ** As a result of the China-Australia dispute, Australian
exporters have had to shift from China to other buyers, most
notably India but also smaller importers like Vietnam and
Bangladesh  urn:newsml:reuters.com:*:nL2N2NQ019
    ** Brokerage maintains PT at A$5.36 and retains "buy" rating
    ** Six of 11 analysts rate stock "buy" or higher, four
"hold" and one "sell" or lower; their median PT is A$4.30 –
Refinitiv data
    ** Stock down 2.1% this year, as of last close

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com;))
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