UBS rates ORI as Downgrade to Sell from Neutral
UBS is incorporating increasing headwinds for the Australasian explosives business into forecasts. This results in an earnings per share cut of 4-5% in FY14-16. On current multiples UBS believes the stock looks expensive relative to its cyclical industrial peers.
As near-term risk/reward is skewed to the downside, given the leverage to global coal markets, the broker reduces the rating to Sell from Neutral. Target is lowered to $19.50 from $21.67.
UBS rates ORI as Downgrade to Sell from Neutral
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Last
$17.70 |
Change
-0.170(0.95%) |
Mkt cap ! $8.604B | |||
| Open | High | Low | Value | Volume |
| $17.91 | $17.91 | $17.65 | $15.59M | 916.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 2190 | $17.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.70 | 1435 | 8 |
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| Last trade - 12.08pm 21/06/2024 (20 minute delay) ? |
| ORI (ASX) Chart |