2345 GMT [Dow Jones] STOCK CALL: Macquarie Research downgrades...

2345 GMT [Dow Jones] STOCK CALL: Macquarie Research downgrades Boom Logistics (BOL.AU) to Neutral. "We have lowered our FY08 earnings forecasts twice so far in 1H08. While BOL's key markets continue to have sound outlooks, we have concerns over earnings stability," analyst says. Targets BOL at A$3.04 on 12 month view, stock last at A$2.11, down 5 cents. (LMF)

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2233 GMT [Dow Jones] STOCK CALL: ABN AMRO cuts Boom Logistics (BOL.AU) to Hold from Buy to reflect earnings update and recent share price weakness. "Another downgrade comes quickly after the problems of early 2007 and is blamed on some new factors," ABN says. "This again has dented our confidence in the resilience of the business model, predictability of earnings and future consolidation success. Similar to our concerns after the third FY07 downgrade in July, we have lowered our view of BOL's business model, predictability of earnings/cash flow and the potential for further, successful consolidation activity. Whilst the stock appears cheap on less than 10x FY p/e, this needs to be viewed in the context of minimal earnings growth and sector peers (i.e. Emeco and Coates prior to the takeover) trading at similar multiples." Also cuts price target to A$2.30 from A$3.30. Last trade A$2.03. (ABH)