Brokers have issued two downgrades this morning on prominent Australian companies
Livewire Equities
Livewire
Brokers have issued two downgrades this morning on prominent Australian companies. Firstly, Citi has downgraded Leighton Holdings (ASX: LEI) from Neutral to Sell following the allegations of impropriety, although risk management practices have improved. The broker applied a 10% discount to the valuation of the company. Qantas (ASX: QAN) has also been downgraded this morning by CIMB Securities from Outperform to Neutral. The broker believes that Virgin is gaining ground on the airline and earnings risk is increasing in the international division as competitors increase capacity. Despite this, the broker still prefers Qantas over Virgin on valuation.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
The Livewire Equities feed brings you a range of insights that relate to Australian equities
Livewire Equities
Livewire
The Livewire Equities feed brings you a range of insights that relate to Australian equities
Expertise
No areas of expertise
Livewire Equities
Livewire
The Livewire Equities feed brings you a range of insights that relate to Australian equities
Expertise
No areas of expertise
Comments
Comments
Sign In or Join Free to comment