CSFB Downgrades Nylex To Underperform
Tuesday, August 02, 2005 7:02:07 PM ET
Dow Jones Newswires
0847 [Dow Jones] STOCK CALL: CSFB cuts Nylex (NLX.AU) target to 25 cents from 30 cents, rating to Underperform from Neutral. Won't review earnings forecasts until FY result in September gives more insight into performance of divisions, but says in meantime stock deserves to trade at discount to market: "We feel that we may have been a little generous with our 2006 forecasts." Thinks company will continue to suffer from input cost pressures. Water strategy also problematic. Stock last 25 cents. (RBT)
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(END) Dow Jones Newswires
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