this may explain today's fluctuations

2233 GMT [Dow Jones] STOCK CALL: United Group (UGL.AU) rating downgraded to Hold from Buy by Goldman Sachs JBWere after delay to construction of Incitec Pivot's (IPL.AU) Moranbah ammonium nitrate plant, while target price cut 19% to A$9.30 from A$11.50 by ABN AMRO, which retains Buy rating.

Both brokers cut EPS forecasts over each of next 3 years by between 5% and 7% (prev 17-20% per annum mm), while GSJBW lowers target price 12% to A$9.66 from A$10.98.

ABN says despite second deferral of project in just over 12 months, UGL remains at attractive valuation, with strong balance sheet, diversified and less cyclical sector exposure.

MM. Analysts still expect UGL to grow at about 12%/yr over each of next 3 years. How many firms have that forecast?
I particuarly like the last sentence by ABN. indicates resilience of UGL. I wish i could buy more. charts may say further drops likely but would double up at $7.60 if i could. Results only 8 days away.