BUZZ-Jefferies lifts PT on Nickel Industries; sees diversification scope

Reuters05-01

** Analysts at Jefferies raise price target on Australia's Nickel Industries to A$1.20 from A$1; maintain "buy"

** Brokerage says co remains well-positioned for opportunities to further diversify operations, providing access to EV battery supply chain

** Says firm is transitioning into an internally funded growth platform from a previous externally funded one

** Adds that co is generating cashflows that will fund the next growth phase

** Remains attracted to co's ability to maintain EBITDA margins in a compressed nickel market

** Eight of nine analysts rate the stock "buy" or higher and one "hold"; their median PT is A$1.1 – LSEG data

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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