An update in Morgan Stanley's model for 29Metals after including the insurance payment at Capricorn Copper, lower depreciation and interest rate expense resulted in a lift to the FY25 EPS forecast.

EPS forecasts for FY26-27 cut due to higher cost estimate at Golden Grove.

Equal-weight. Target unchanged at 13c.

Sector: Materials.

Target price is $0.13.Current Price is $0.12. Difference: $0.01 - (brackets indicate current price is over target). If 29M meets the Morgan Stanley target it will return approximately 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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