Credit Suisse 09/09/2009 3 Downgrade to Neutral from Outperform $3.50 10.6%
The broker is now more confident on the company's ability to move its DAP exports at modestly higher prices, an outcome it suggests would remove potential inventory overhang and also address concerns with respect to cash flow generation.
This means there is a chance FY09 earnings will be slightly better than the broker currently forecasts, though current spot fertiliser prices and forward currency rates imply FY10 earnings 15-20% below current estimates.
With the stock having enjoyed a good run of late to the point the shares are now trading around fair value the broker has downgraded to a Neutral rating.
latest rating by macquarie , page-4
Add IPL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$3.05 |
Change
0.020(0.66%) |
Mkt cap ! $5.836B | |||
| Open | High | Low | Value | Volume |
| $3.05 | $3.05 | $3.01 | $13.45M | 4.431M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 81114 | $3.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.05 | 54119 | 1 |
View Market Depth
| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| IPL (ASX) Chart |