I just had a look at Wall Street Journal where they show the target prices set by analysts. ALL's high target price has been reduced from $42 to $36.24. I'm assuming this means Deutche Bank has revised their target – I think they were they only guys with a $42 outlook.
I would have thought a reduction of about 15% would attract some media. Any takes on why the reduction? The latest reported figures were very good, and the consensus is that earnings will be skewed towards the second half of the financial year. So in the absence of news from the company or the broker who cut their target, I can't see the reason behind the downgrade.
ALL Price at posting:
$29.10 Sentiment: Hold Disclosure: Held
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