In a report released today, Andrew Scott from Morgan Stanley maintained a Hold rating on Incitec Pivot Limited (ICPVF – Research Report), with a price target of A$3.00. The company’s shares closed last Wednesday at $1.85.
According to TipRanks, Scott is a 3-star analyst with an average return of 4.6% and a 54.55% success rate. Scott covers the Basic Materials sector, focusing on stocks such as Orica Limited, Incitec Pivot Limited, and Sims.
In addition to Morgan Stanley, Incitec Pivot Limited also received a Hold from Citi’s Paul McTaggart in a report issued yesterday. However, on the same day, Goldman Sachs maintained a Buy rating on Incitec Pivot Limited (Other OTC: ICPVF).
The company has a one-year high of $2.14 and a one-year low of $1.63. Currently, Incitec Pivot Limited has an average volume of 17.57K.
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Incitec Pivot Limited (ICPVF) Company Description:
Incitec Pivot Ltd. engages in manufacturing and selling of explosives, fertilisers and industrial chemicals. The company operates through businesses: Asia Pacific, America and Corporate. The Asia Pacific business operates through five segments: Incitec Pivot Fertilisers, Southern Cross International, Fertilisers Elimination, Dyno Nobel Asia Pacific and Asia Pacific Eliminations. The Incitec Pivot Fertilisers segment manufactures and distributes fertilisers in Eastern Australia. The Southern Cross International segment manufactures ammonium phosphates and distributes its manufactured fertilizer products to wholesalers in Australia. The Fertilisers Elimination segment represents the elimination of sales and profit in stock arising from the sale of SCI manufactured products. The Dyno Nobel Asia Pacific segment manufactures and sells industrial explosives and related products and services to the mining industry in the Asia Pacific region and Turkey. The Asia Pacific Eliminations segment represents elimination of sales and profit in stock arising from IPF and SCI sales to DNAP at an arm’s length transfer price. The America business operates through Dyno Nobel Americas segment, which manufactures and sells industrial explosives and related products and services to the mining, quarrying and construction industries in the Americas. The Corporate segment operates through Group Eliminations segment, which represents elimination of sales and profit in stock arising from intersegment sales at an arm’s length transfer price. The company was founded in 2003 and is headquartered in Melbourne, Australia.
