That DOW immediately expensed the costs associated with the ill-fated Activate consortium and won't buy rail infrastructure, especially in a small town of only 270,000, mainly Federal public servants who use expensed public sector cars at any rate, at any price due to rail: Vic, NSW and Queensland states being a significant portion of its portfolio.
The expensed nature of the bid costs $10 million is less than expected and they expensed it early.
ASX understood the play and issued a price query and the company straight batted it with comments re the Morgan Stanley upgrade from a sell to a conviction buy.
The market did not follow the play, does not understand the Keolis-Downer rail JV.
Morgan Stanley does and is obviously better informed than the market which is clueless.
Should go back beyond $3.50 2morrow, if can't really have a lot of downside given that they have reiterated guidance as in the ANN.
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$5.76 |
Change
0.050(0.88%) |
Mkt cap ! $3.626B | |||
| Open | High | Low | Value | Volume |
| $5.75 | $5.81 | $5.69 | $4.241M | 737.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11134 | $5.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.76 | 9983 | 4 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
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