0101 GMT - Sims's Australian business delivered a better-than-expected 1H EBIT, while its U.S. businesses were modestly below expectations, Citi analyst Paul McTaggart says in a note. Still, the U.S. "was the key driver by far" of the metal recycler's 1H fiscal result, with its North America Metal unit recording a sharp jump in trading margin, McTaggart says. Sims earlier said its 1H underlying EBIT nearly tripled to A$73.0 million. That was 9% above consensus, a tailwind for shares, McTaggart says. Citi has a neutral rating and an A$13.50 target on Sims. The stock is up 0.9% at A$14.19. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 24, 2025 20:01 ET (01:01 GMT)
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