Adelaide Brighton Downgraded to Underperform at Credit Suisse (ABC)
Adelaide Brighton (ASX:ABC) was downgraded by stock analysts at Credit Suisse to an “underperform” rating in a report issued on Monday. They currently have a $3.55 price target on the stock, down from their previous price target of $3.60.
Shares of Adelaide Brighton (ASX:ABC) traded up 2.32% during mid-day trading on Monday, hitting A$3.530. The stock had a trading volume of 1,505,140 shares. 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$3.58 and its 200-day moving average is A$3.7. The company has a market cap of A$2.254 billion and a P/E ratio of 14.74.
A number of other firms have also recently commented on ABC. Analysts at CIMB reiterated a “hold” rating on shares of Adelaide Brighton in a research note on Friday. 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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