Australian nickel miners..

Australian nickel miners... heading back to the summit? Macquarie Bank's Commodities team thinks nickel prices could head back to historic highs should export bans hold as highlighted in their commodity comment. Factoring in a recovery in nickel prices back to US$18/lb by 2017 would translate to a doubling of our price targets for WSA, PAN, SIR and MCR. We remain bullish on the pure play nickel stocks and maintain our Outperform ratings for all five nickel miners. WSA and PAN remain our preferred names.