citi initiates coverage on aio with a ...buy, page-3

DJ MARKET TALK: Asciano Rated Buy, QR National At Sell By Citi



0035 GMT [Dow Jones] STOCK CALL: Citi has initiated Asciano (AIO.AU) at a Buy recommendation and A$2.05 target price, while slapping a Sell rating and A$2.65 price target on QR National (QRN.AU). The broker says Asciano will be the big winner in the coal haulage battleground as it has demonstrated an ability to win market share in Queensland and defend its position in New South Wales, while QR National's operational efficiency gains aren't enough for a compelling investment case. AIO last up 2.7% at A$1.74. QRN up 1.0% at A$2.93. ([email protected])