PRE-MARKET AUSTRALIAN STOCKS NEWS: BlueScope Steel (BSL AT) named Robin Davies as Australia and New Zealand chief
BlueScope Steel (BSL AT) - Co. named Robin Davies as Australia and New Zealand chief, with Gerald Cornelius to remain interim chief of Australian Steel Products until Davies starts on July 1. (Dow Jones Newswires)
Karoon Energy (KAR AT) - Co. said Tadeu Fraga will step down as non-executive director for personal and family reasons, effective March 30, and named Fernando Borges as nonexecutive director. (Dow Jones Newswires)
Webjet (WEB AT) - Co. said CEO Katrina Barry will resign and remain until FY results in May, while it begins a search for a successor, noted resilient demand with a shift towards domestic and short-haul travel in Asia-Pacific, and reaffirmed FY 2026 guidance with underlying EBITDA expected at AUD 28mln-AUD 29mln excluding Webjet Business Travel. (Dow Jones Newswires)
Broker Ratings/Price Target
- Evolution Mining (EVN AT) Upgraded to Neutral from Underperform, price target raised 13% to AUD 12.70/shr by Macquarie
- IGO (IGO AT) Price target raised 5% to AUD 9.75/shr by Macquarie
- Mineral Resources (MIN AT) Price target cut 5% to AUD 72.00/shr by Macquarie
- Rio Tinto (RIO AT) Upgraded to Outperform from Neutral, price target raised 8% to AUD 168.00/shr by Macquarie
- Whitehaven Coal (WHC AT) Price target raised 16% to AUD 9.25/shr by Macquarie
BlueScope Steel’s appointment of Robin Davies as the new chief for Australia and New Zealand is a strategic move that may enhance operational efficiency and leadership in key markets. This shift, alongside notable upgrades and price target adjustments from Macquarie for major mining firms like Rio Tinto and Evolution Mining, reflects a positive sentiment in the sector, potentially influencing stock valuations and investor strategies in the commodities space.