Adelaide Brighton Downgraded to Underperform at Credit Suisse (ABC)
Adelaide Brighton (ASX:ABC) was downgraded by Credit Suisse to an “underperform” rating in a research note issued on Sunday. They currently have a $3.55 price objective on the stock, down from their previous price objective of $3.60.
Shares of Adelaide Brighton (ASX:ABC) traded up 0.87% during mid-day trading on Friday, hitting A$3.460. 2,645,355 shares of the company’s stock traded hands. Adelaide Brighton has a 52 week low of A$3.150 and a 52 week high of A$4.395. The stock’s 50-day moving average is A$3.57 and its 200-day moving average is A$3.76. The company has a market cap of A$2.209 billion and a P/E ratio of 14.66.
Separately, analysts at CIMB reiterated a “hold” rating on shares of Adelaide Brighton in a research note on Thursday. They now have a $3.45 price target on the stock.
Adelaide Brighton Ltd is an Australia-based company engaged in the manufacture and distribution of cement, and cementitious products, lime, premixed concrete, aggregates, sand and concrete products.
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