huntley reduce from $4 to $1.85

Shows these researchers have no idea. It's easy for them to all of a sudden change their ratings after results and cut from $4 to 1.85 as if they had known it. Just shows brokers and analysts s witch doctors lol.

Huntley wrote 19th february
Recommendation Impact: We maintain our Hold recommendation despite the lower share price. While the balance sheet is sound, high risk comes from slim margins and a hefty maintenance capex requirement.We slash our valuation from $4.00 to $1.85

Dec 12th Huntley wrote
Business Impact: We reduce our valuation to $4.00 a share after taking into account the softer outlook and halving our $400m option value for potential export parity pricing. Long term assumptions include US$60/t thermal coal, an A$/US$ exchange rate of 0.80 and a 10% discount rate.
***So when the share falls to $1 Huntley will magically say they slash forecast to 90 cents, or when they rebound to $3 Huntley will change their forecast again and their recommendations???