Deutsche Bank coming out today downgrading BEN to a sell.
Interesting to understand the analysts assumptions to down grade to a sell, yet upgrade the price target?!?
The following courtesy of FNArena -
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 0 Deutsche Bank 18/01/2017 5 Downgrade to Sell from Hold $11.40 - 10.3% 1 While acknowledging the bank's prospects have improved in recent quarters, Deutsche Bank analysts are simply of the view the share price has run way too hard. Downgrade to Sell from Hold. Price target lifts to $11.40 from $10.70.
Target price is $11.40 Current Price is $13.24 Difference: minus $1.84 (current price is over target).
Out of the seven brokers on FN Arena, 4 have BEN as a sell recommendation with price targets ranging from $9.40 - $11.40, two as a hold with price targets ranging from $9.50 - $11.20 (why have it as a hold if you are expecting the share price to decline?) and only Citi having a buy recommendation with a $12.25 price target. This was issued back in August 2016.
Just a few people's paid opinions...
Ann: BEN 2017 interim financial results announcement details, page-13
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Last
$11.64 |
Change
-0.040(0.34%) |
Mkt cap ! $6.599B | |||
| Open | High | Low | Value | Volume |
| $11.67 | $11.68 | $11.61 | $26.73M | 2.301M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4015 | $11.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.67 | 7368 | 1 |
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| BEN (ASX) Chart |