Austin Engineering still a ‘buy”
Analysts at Bell Potter recently slashed the 12-month share price target of Austin Engineering from $5.65 to $4.65. However, the broker maintained its “buy” recommendation given that the company is trading at a significant discount to the target price.
Analysts at Bell Potter recently slashed the 12-month share price target of Austin Engineering from $5.65 to $4.65. However, the broker maintained its “buy" recommendation given that the company is trading at a significant discount to the target price.
Bell Potter highlighted that recent quarterly sales trends from large original equipment manufacturers showed a sharp deterioration in demand for mining equipment, the main focus of Austin’s manufacturing operations.
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