Ord Minnett monthly recommends BSL "accumulate"

Ord Minnett monthly recommends BSL "accumulate", target price $19.80, implied upside 37%

One of their 6 key choices for 2019 
"The global steel maker has completed a major restructuring over recent years, including closing half its Australian manufacturing capacity. Bluescope is a key choice as we see it generating material free cash flow through the cycle, even at levels that would be unprofitable for its peers. Its focus on high value-added products - some sold at fixed prices - and US spreads that remain unusually high also underpin our view.
In addition, while lower hot-rolled coil prices hurt BlueScope's commodity steelmaking operations, lower substrate prices could lead to margin expansion for its building products businesses."

This is in line with Old Minnett's recommendation that portfolios should be selectively cyclical  - overweight in materials, industrial, and energy sectors.

Their price target implies we still have another $5.80 of climbing to go!