I wouldn't worry about it. If you step back from all the day to...

I wouldn't worry about it.

If you step back from all the day to day gyrations, it's obvious that few, if any, analysts are able to make an accurate call - up or down. These are all probably decent guys and gals, they are just faced with an environment full of turbulence and uncertainty.

They are basing their outlook on a) CNP having to pay an increased interest rate b) Softening economic outlook. For your average risk-averse, long-term GSJBW client, they are probably making the right call based on these.

The question is whether the two premises are in fact going to eventuate. If they are, well done GSJBW. If not, they will publish a research update in a few months with revised estimates.