Actually, it is widely accepted that upgrades/downgrades even by a single analyst can move the stock price - at least in the short run. There's plenty of literature on this but a summary from Morningstar is here: http://news.morningstar.com/classroom2/course.asp?docId=144045&page=8
Having read the CS report, they are still expecting dividends to increase by meaningful amounts this year and next without any increase in borrowings so as far as I am concerned, today's decline in price is a buying opportunity.
TA, page-105
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Last
$10.75 |
Change
0.010(0.09%) |
Mkt cap ! $7.232B | |||
| Open | High | Low | Value | Volume |
| $10.78 | $10.80 | $10.66 | $12.49M | 1.164M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2609 | $10.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.75 | 24635 | 6 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| AGL (ASX) Chart |