Macquarie has downgraded ANZ from Outperform to Neutral today after cutting its forecast earnings for FY14 - 15
Livewire Equities
Livewire
Macquarie has downgraded ANZ from Outperform to Neutral today after cutting its forecast earnings for FY14 - 15. The 3.5% cut was prompted by pressure on margins in FY14 due to forex sensitivity and a shift in profit mix toward lower margin products. These additional risks are due to the bank's strategy of pursuing Asian growth, which the broker believes is a sound long-term strategy. However, Macquarie recommends investors sit on the sidelines whilst the adjustments come through, and hence downgraded the bank to Neutral.
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
Welcome to Livewire, Australia’s most trusted source of investment insights and analysis.
To continue reading this wire and get unlimited access to Livewire, join for free now and become a more informed and confident investor.
Already have an account? Sign in here
Advertisement
The Livewire Equities feed brings you a range of insights that relate to Australian equities
Never miss an update
Get the latest insights from me in your inbox when they’re published.
2 topics
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
Please sign in to comment on this wire.