Australia's Nickel Industries rises as Bell Potter hikes PT, earnings view

Nickel Industries

06/05/2024 03:50

** Shares of Australia's Nickel Industries  NIC.AX  rise as
much as 4% to A$0.988, their highest since May 8, 2023
    ** Analysts at Bell Potter raise price target to A$1.54 from
A$1.50, maintain "buy" rating 
    ** Upgrade earnings per share estimates for CY24, CY25 and
CY26 by 72%, 7% and 1%, respectively 
    ** Say outlook positive for June quarter with input costs
remaining low and nickel prices improving
    ** Seven of nine analysts rate the stock "buy" or higher,
and two "hold"; their median PT is A$1.10 – LSEG data
    ** Stock up 36.7% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))