It's great to see CCL moving down a bit more for longer term buyers to top up - it has been under competitive strain and has an excessive p/e.
This bluest of blue chips should never have to issue a profit downgrade - how insulting.
Nevertheless the stock is experiencing difficulty that should be reflected in a lower share price.
Essentially, until Schweppes Australia/Pepsi discontinues its aggressive discounting and price war, the profit impact on CCL will continue. It is therefore quite possible that further downgrades could occur.
CCL Price at posting:
$11.77 Sentiment: Buy Disclosure: Not Held
