0234 GMT - Metals recycler Sims appears poised for more earnings growth as ferrous-metal market conditions stabilize, according to Macquarie analysts. Still, the "outlook commentary remains couched in much macro uncertainty, while pointing to the potentially positive impacts of U.S. tariffs and improving fundamental positioning of the business," the analysts say. They maintain an outperform rating on the stock and raise their target price to A$15.70 from A$15.40. "Valuation is undemanding," they say, adding that Sims is trading at around 9.2x estimated FY26 Ebit versus a 10-year average of roughly 12.5x. Sims is up 3.8% at A$14.74. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 26, 2025 21:34 ET (02:34 GMT)
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