Two brokers have downgraded Bank of Queensland (ASX: BOQ) this morning in the wake of its FY13 results

Tom McKay

Two brokers have downgraded Bank of Queensland (ASX: BOQ) this morning in the wake of its FY13 results. UBS has downgraded from Buy to Neutral, whilst Macquarie downgraded from Neutral to Underperform. UBS was happy with the turnaround in the bank in terms of cleaning up bad debt and improving its net interest margin. However, this turnaround is already priced into the market and the broker believes the new growth phase may bring its own problems. Macquarie was similarly pleased with the expected improvement in bad debt charges, but also thought that the bank was now fully priced.


About this contributor

Tom McKay

Tom McKay

Managing Director and Co-Founder, Livewire

I'm the Managing Director and Co-Founder of Livewire. I'm passionate about collecting and curating the markets most informed insights every day so that our members can discover new investment ideas. If you would like to get in touch - please use...

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