LLC – UBS rates the stock as Downgrade to Neutral from Buy

UBS downgrades to Neutral from Buy, believing risks are now more balanced. The broker assesses the market is pricing in a solid outcome for the sale of the engineering & services business.

However, net sale proceeds could be materially lower than the market expects, in the broker’s opinion, given the higher-than-expected negative working capital balance in that division. Target is raised to $17.50 from $16.30.

Sector: Real Estate.

Target price is $17.50.Current Price is $16.95. Difference: $0.55 – (brackets indicate current price is over target). If LLC meets the UBS target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →