0338 GMT - BlueScope Steel enters FY27 with strong earnings momentum, says Morgan Stanley. The ASX-listed steelmaker is pursuing more cost savings, and value-added growth is progressing. Meanwhile, U.S. steel spreads look supportive near term, the bank says. That said, "Asian spread assumptions are more demanding and ASP [Australian Steel Products] profitability remains subdued," it says. MS raises its target on the stock to 34.00 Australian dollars a share from A$32.35/share, and reiterates an equal-weight rating. Shares are up 1.7% at A$33.50, rebounding from a 2.2% loss on Monday.
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