At the AGM, Iluka Resources has noted there are no disruptions to operations so far. Guidance has been withdrawn, given the potential for the pandemic to affect demand. There is a high degree of certainty for rutile and synthetic rutile revenue streams because of take-or-pay offtake agreements, the broker points out. Morgan Stanley retains an Equal-weight rating and $10.05 target. Industry view: In Line. Sector: Materials. Target price is $10.05.Current Price is $7.62. Difference: $2.43 - (brackets indicate current price is over target). If ILU meets the Morgan Stanley target it will return approximately 24% (excluding dividends, fees and charges - negative figures indicate an expected loss). © 2020 Acquisdata Pty Ltd., source FN Arena
Morgan Stanley is to abandon European private equity activity and has released several senior members of the European buyout division. The departing staff includes managing director Jean-Marc Jabre.