Australia's Sims rises; Macquarie bumps up earnings, PT on upbeat outlook

Sims

24/11/2025 03:53

** Shares of metal recycler Sims Ltd SGM.AX rise 6.7% to A$16.08, on track for their strongest session since October 27, if gains hold

** Stock among top gainer in the benchmark index, which is up 1.1%

** Analysts at Macquarie upgrade adjusted NPAT estimates for FY26, FY27 and FY28 by 7%, 12%, and 15%, respectively

** SGM on Friday said it expects 1HFY26 EBIT to reflect a "meaningful improvement" y-o-y, and broadly in-line with 2HFY25 EBIT

** Revises up price target to A$18.10 from A$15.7, maintains "outperform" rating

** Two of 12 analysts rate the stock "buy", six "hold" and four "sell" or lower; their median PT is A$14.33 – according to data compiled by LSEG

** Stock up 35.8%, YTD

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.Shaikh@thomsonreuters.com;))