MARKETS SPECTATOR: Broker chatter

Credit Suisse expects Boral earnings to undershoot previously bearish forecasts, while Cathay Pacific and SMS Management & Technology also take a downgrade.

Credit Suisse reduced the stock to neutral from outperform and lowered its target price to $3.90 from $3.95. "Reflecting pervasive weakness in end-markets, Boral’s first-quarter trading update confirms not only its challenges, but those across the sector. Operational earnings in 2013 will undershoot previous bearish expectations, while cost cut initiatives remain the key profit driver”, it said.

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