Adelaide Brighton Downgraded to “Underperform” at Credit Suisse (ABC)
Adelaide Brighton (ASX:ABC) was downgraded by equities research analysts at Credit Suisse to an “underperform” rating in a research note issued to investors on Tuesday. They currently have a $3.55 price target on the stock, down from their previous price target of $3.60.
A number of other analysts have also recently weighed in on ABC. Analysts at CIMB reiterated a “hold” rating on shares of Adelaide Brighton in a research note on Monday. They now have a $3.45 price target on the stock.
Adelaide Brighton (ASX:ABC) remained flat at A$3.590 during during mid-day trading trading on Tuesday. 1,060,781 shares of the company’s stock traded hands. Adelaide Brighton has a 1-year low of A$3.150 and a 1-year high of A$4.395. The stock has a 50-day moving average of A$3.58 and a 200-day moving average of A$3.74. The company has a market cap of A$2.292 billion and a P/E ratio of 15.34.
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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