BlueScope Loses Bull as U.S. Conditions 'as Good as They Get' -- Market Talk
Dow Jones2026/08/19 02:130213 GMT - While BlueScope Steel is delivering good cost savings, Macquarie questions what will drive its stock from here. "U.S. conditions are as good as they get," while conditions in Australia and New Zealand are weak, Macquarie says. BlueScope's execution is strong and the prospect of capital returns is attractive, "however we think these factors are largely discounted" in the steelmaker's share price, it says. The bank trims its target on the stock to A$34.35 from A$35.95 and downgrades to neutral from outperform. Shares are up 2.5% at A$32.29. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
August 18, 2026 22:13 ET (02:13 GMT)
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