Jefferies lifts PT on Nickel Industries; sees diversification scope

Nickel Industries

30/04/2024 22:56

** Analysts at Jefferies raise price target on Australia's
Nickel Industries  NIC.AX  to A$1.20 from A$1; maintain "buy"
    ** Brokerage says co remains well-positioned for
opportunities to further diversify operations, providing access
to EV battery supply chain
    ** Says firm is transitioning into an internally funded
growth platform from a previous externally funded one
    ** Adds that co is generating cashflows that will fund the
next growth phase
    ** Remains attracted to co's ability to maintain EBITDA
margins in a compressed nickel market
    ** Eight of nine analysts rate the stock "buy" or higher and
one "hold"; their median PT is A$1.1 – LSEG data
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))