ALQ - Deutsche Bank rates the stock as Hold
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Deutsche Bank considers the outlook for the sector is mixed, with growth in infrastructure expenditure, declining Australian LNG construction and some signs of recovery in global oil & gas capital expenditure.
The broker assesses these stocks are trading at the upper end of historical ranges and there are minimal buying opportunities.
Deutsche Bank still likes the company's exposure to the recovering minerals exploration market and structural growth in life sciences but believes this is now fully reflected in the share price. Rating is downgraded to Hold from Buy on valuation. Target is $7.41.
Sector: Commercial Services & Supplies.
Target price is $7.41.Current Price is $7.48. Difference: ($0.07) - (brackets indicate current price is over target). If ALQ meets the Deutsche Bank target it will return approximately -1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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