Comsec latest research newsletter put ACCUMULATE/OUT PERFORM on LEI.
Last Traded: $24.71
Market Cap: $3,498M
Sector: Industrials Summary of report dated 03/06/09
ACCUMULATE / OUT PERFORM
Valuation: $26.07
What’s new? On 1 June 2009, CBA Economics released its construction forecasts. For engineering and non-residential construction the outlook is not promising. CBA Research suggests that engineering construction (volume of work done) peaked in FY09 at $73.6b and now total engineering construction is forecast to decrease by 7% in FY10 to $68.7b. However, public sector activity is one area that presents risks to these forecasts — CBA Economics‘ forecasts are based on the capital spending profiles contained in the most recent mid-year budget reviews and more stimulus may be needed.
Comsec latest research newsletter put ACCUMULATE/OUT PERFORM on...
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