AMP 0.32% $1.55 amp limited

will AMP do a waterfall like Mayne

  1. 7,397 Posts.
    Around the Traps ... with The Ferret
    08:51, Tuesday, 30 April 2002

    Sydney - Tuesday - April 30: (RWE)
    *****************************

    In the US the downgrade of a stock by an investment house is
    taken very seriously and can make or break a company's image in the
    market.
    Ferret sees a similar pattern emerging here.
    Credit Suisse First Boston has put the mockers on AMP which
    subsequently rattled the market and the share price yesterday which
    finished 23c lower at $18.32 after being 46c behind during the session.
    CSFB dropped its AMP profit forecast for the year to $1.07
    billion from $1.119 billion.
    It now values AMP shares at $15.95, not a happy scenario for
    chief executive Paul Batchelor who earlier warned of a tough year
    following a 40 per cent drop in profit last year to $690 million.
    Shareholders including institutions may well start losing
    confidence in top management at this rate.

 
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