0442 GMT - Mineral-sands producer Iluka posts a strong beat on 2Q sales, which came in roughly 75% higher than market forecasts, Morgan Stanley says. The surge in sales--which more than doubled on-quarter--is underpinned by zircon and synthetic rutile volumes, while rutile lagged, MS says. Zircon pricing is slightly below forecasts, but a price rise is flagged for 3Q, says the bank. MS expects meaningful upside to fiscal results versus consensus. It reiterates an overweight rating and A$7.95 share-price target. The stock is 5.5% higher at A$6.15. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
July 28, 2026 00:42 ET (04:42 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.