Australia's Aurizon hits 12-year low; Macquarie cuts PT

Aurizon Holdings

13/08/2024 03:10

** Shares of Australia's Aurizon  AZJ.AX  fall as much as
4.2% to A$3.16
    ** Stock hits lowest level since July 2012
    ** Analysts at Macquarie lower price target on the rail
freight operator to A$3.60 from A$3.73; maintain "neutral"
rating
    ** Cut PT reflecting lower earnings from rail coal and on
account of co having less network assets
    ** Say FY25 outlook also soft with EBITDA guidance ~2%-7%
below expectation as coal volume leverage is being offset by
lower yields
    ** Stock down 13.2% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))