I think we are down because of all the recent broker downgrades on other producers.
AQG the latest to be down graded today following its qtrly.
Macquarie downgraded with a target of 2.30 (still well below the current 2.52 sp despite a 10% drop today).
MML continues as a buy for most brokers including one in the UK last night following the qtrly.
Others maintained their buy following the 8th Aug update and with nothing new in the qtrly, I don't think we will see any downgrades from buy.
Very few with a buy rating as consensus (MML the only one I know of).
We should easily bounce to new highs again especially if more brokers reiterate their buy.
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- buy rating reaffirmed 31/7
I think we are down because of all the recent broker downgrades...
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