You make some good points. I have a different view on yesterday's and recent trading activity.
Yes, brokers have put out buy recommendations (5 analysts have buy recommendations with consensus TP$1.41), but it should be noted that they have been revising earnings estimates lower since the downgrade. This extract from FNArena Broker Call "Ord Minnett reduces its target for Lindsay Australia to $1.31 from $1.52 after management lowered FY24 earnings (EBITDA) guidance to $88-$94m from $102-$108m" is one example. I doubt yesterdays trading activity stems from these reports. Market sentiment and share price performance since downgrade says otherwise.
I have no idea what is behind recent trading activity but suspiciuos of the high volume of low value trades, many of which are crossings.
You make some good points. I have a different view on...
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Last
88.0¢ |
Change
0.005(0.57%) |
Mkt cap ! $274.9M | |||
| Open | High | Low | Value | Volume |
| 87.5¢ | 88.0¢ | 86.5¢ | $354.7K | 406.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11198 | 88.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 89.0¢ | 2654 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| LAU (ASX) Chart |