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
$11.22 |
Change
-0.235(2.05%) |
Mkt cap ! $7.514B | |||
| Open | High | Low | Value | Volume |
| $11.17 | $11.24 | $11.02 | $19.12M | 1.761M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 46 | 5890 | $11.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.22 | 2874 | 16 |
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| Last trade - 14.37pm 27/08/2024 (20 minute delay) ? |
| AGL (ASX) Chart |