Actually, it is widely accepted that upgrades/downgrades even by a single analyst can move the stock price - at least in the short run. There's plenty of literature on this but a summary from Morningstar is here: http://news.morningstar.com/classroom2/course.asp?docId=144045&page=8
Having read the CS report, they are still expecting dividends to increase by meaningful amounts this year and next without any increase in borrowings so as far as I am concerned, today's decline in price is a buying opportunity.
TA, page-105
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Last
$10.43 |
Change
-0.020(0.19%) |
Mkt cap ! $7.030B | |||
| Open | High | Low | Value | Volume |
| $10.47 | $10.48 | $10.41 | $8.083M | 779.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1160 | $10.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.44 | 8587 | 16 |
View Market Depth
| Last trade - 10.38am 21/06/2024 (20 minute delay) ? |
| AGL (ASX) Chart |