will AMP do a waterfall like Mayne

Around the Traps ... with The Ferret
08:51, Tuesday, 30 April 2002

Sydney - Tuesday - April 30: (RWE)
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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.