Morningstar raised its recommendation on Asciano to “hold” from “reduce” with a $5.36 price target and said growth was largely a function of the economic cycle, demand for coal and agricultural conditions.
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this business has turned the corner. recall when the stick was down in the mid $1.00. what a turnaround. the mining boom has assisted in terms of coal but i would still like to see PN "develop" business rather than the operators just underbidding each other for the same business.