Citi trims TP and updates estimates for Australia's IGO
17/07/2024 05:28
** Citi trims target price for IGO IGO.AX by 80 AU cents
to A$6.80 per share; maintains "Neutral" rating
** Shares of IGO down as much as 0.8% to A$5.910
** Brokerage estimates FY24 net profit after tax (NPAT)
(stat) of A$80 mln ($53.90 mln) compared to consensus estimate
of A$373 mln
** Citi sees FY24 sales revenue of A$838 mln vs consensus
estimate of A$811 mln
** Brokerage updates estimates to include co's A$275 mln to
295 mln potential exploration impairment charges which co
announced on Tuesday
** Stock has fallen 34.1% this year as of last close
($1 = 1.4841 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))