Credit Suisse has downgraded Brambles (BXB) to Neutral from Outperform following the pallet supplier's recently announced spin-off of its Recall business

Livewire News

Livewire

Credit Suisse has downgraded Brambles (BXB) to Neutral from Outperform following the pallet supplier's recently announced spin-off of its Recall business. The price target has been increased to $10.00 (from $9.82). The broker views this as a good move, noting that management will be less distracted and capable of focusing on core activities. Although Credit Suisse believes BXB is the highest quality stock in the transport space, the stock is expensive and has been downgraded to Neutral after a strong run on the share price following the news.


Livewire News
Livewire News
Livewire

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment