a bump in the road for a short time but then again do you believe the analysts?
Salmon supplier Tassal Group has been cut to neutral from outperform at Credit Suisse after record summer temperatures are expected to drag on the company’s volumes and costs.
“While some might be willing to look through this against a backdrop of high global and domestic prices, we believe current valuation multiples arguably already do this and that near-term downside earnings risks warrant caution,” Credit Suisse analyst Paul Buys said. Credit Suisse does see long-term upside in the stock, with the company’s Coles supermarket contract changing hands, which could see increased exposure to the domestic wholesale channel.
