Citi cuts PT, earnings outlook for Australia's Bluescope

BLUESCOPE STEEL

19/08/2025 24:56

Corrects to add dropped price target of A$25 in first bullet

** Citi cuts PT on Bluescope Steel BSL.AX to A$23 from A$25; maintains "neutral"

** Lowers FY26/27 EBIT forecast by 14%, assuming higher ex raw material costs in Australian steel products, higher conversion costs in North Star - co's steel mill in Ohio

** Sees continued pressure on steel pricing in Australia from nearer-term exports from China

** Stock ended 3.1% lower on Monday after co's FY NPAT dropped to A$83.8 mln ($54.4 mln) from year-ago A$805.7 mln

** YTD, BSL up 25.6%

   ($1 = A$1.5401)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))