Australia's Vulcan slips as UBS downgrades to 'neutral' amid weakening NZ consumer base

Vulcan Steel

22/04/2024 05:22

** ASX-listed shares of Vulcan Steel  VSL.AX  fall as much
as 3.3% to A$7.610, their lowest since March 15
    ** Analysts at UBS say recent data suggest the NZ consumer
base appears to be weakening further and downside momentum is
accelerating
    ** Brokerage sees risk in Australian volumes remains to the
downside; lowers price target to A$7.90 from A$8.10
    ** Brokerage downgrades stock rating to "neutral" from "buy"
 
    ** Stock up 2.9% this year, as of last close

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))