As I said a few days ago, this is a typical over reaction by the market. To put it into perspective, its almost lost as much as what RIO did when the BHP bid fell through. The falling share price is where the correlation between RIO and Leighton ends. RIO is debt ridden and made some very unlucky decisions prior to the financial crisis. Leight on the other hand are still Leighton. They are still gaining more and more contracts and they are still the lion amongst kittens with a much better balance sheet.
The charts say this is a screaming buy. Theres a doji on the candles, RSI is about 37 and the stochastic is below 5.
LEI Price at posting:
$20.51 Sentiment: Buy Disclosure: Held
