This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Technicals show potential for another bearish reversal to extend long-term down channel towards 2012 lows of 200p. Overnight, analysts at Barclays downgraded the shares to Neutral from Buy, and cut the target price to 280p from 350p (20% cut). Upcoming Q4 results could disappoint, as Q3 results did in early February. The last few rallies and corrections have lasted approx. 4 weeks, offering attractive short term trades within a long-term trend.
Consensus is positive (only 8% sells) but this is at odds with the long-term share price downtrend (price -52% since Feb 2016 highs). This may mean analysts need to revise their assumptions (especially with 86% of broker price targets still suggesting upside form current levels), which may lead to even more downgrades, such as that mentioned above. Maybe even some cuts to Sell, adding momentum to this latest corrective phase.
Next Event: 10 May August, Q4/FY Results
Latest Broker 12-Month Consensus: 56% Buy, 36% Hold, 8% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -1.0 | 4.0 | -5.5 | -6.7 | -21.8 | -46.6 | -48.5 | -37.3 | -15.2 |
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