Yeah i found the report, cant remember who published it now.
The sell recco was related to concerns regarding refinancing risk on some $2b in bridging loans later this year. Compounded with the 'sub-prime' issues the broker slapped a sell on the stock....
pretty lame in my opinion, considering the losses and limited new mortgage financing being made, wouldn't banks want to extend finance to industrial companies to make up for the slump in mortgage profits... if you get what i mean...
page 27 if the AFR today gives a brief outline on the problem. Time will tell if it really is an issue, and cuts profits. Good support at $10, strong growth, defensive industry, could be a special!
TPI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
