Much to the delight of its shareholders the BlueScope Steel Limited (ASX: BSL) share price has had a fantastic start to the week.
In afternoon trade the steel producer's shares are up 6.5% to $14.22.
What happened?
With no news out of the company, today's gain is likely to be the result of a favourable broker note out of Ord Minnett this morning.
According to the note, analysts at Ord Minnett have upgraded the steel producer to an accumulate rating with a $15.00 price target.
Ord Minnett appears bullish on the company ahead of its full-year results after making a revision to its commodity prices.
Should BlueScope's shares rise to this price target, it would mean a gain of 5.5% from the current share price.
