MARKET TALK: Daniel Stewart Initiates Intl Ferro Metals At Buy

7th Jul 2010 09:20

0820 GMT [Dow Jones] Daniel Stewart initiates coverage of International Ferro Metals (IFL.LN) with a buy rating and 87p price target. Sees 'the company returning to profit this year, supported by improving ferrochrome prices." Says ferrochrome market "is rapidly returning to the point where demand exceeds supply - this is reflected by recent strong price appreciation," but "the positive impact of this on International Ferro Metals has not yet been recognized by the market." Adds the South African-based miner "offers a focused investment opportunity." Shares -1.8% at 27.5p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 07, 2010 04:20 ET (08:20 GMT)