Business
Which ASX 200 shares have been slapped with price downgrades this week?
Big brokers have come off their holiday breaks this week with updates on a number of ASX 200 shares. Here are the broker downgrades from 12 January 2021 to watch out for.
AGL Energy Limited (ASX: AGL)
The AGL share price has fallen more than 40% in the last 12 months, despite a market leading 7.80% dividend yield.
The energy company recently slashed its FY21 guidance, now expecting underlying profit after tax to be between $500 million and $580 million, down from the previous guidance range of $560 million to $660 million.
As a result, Credit Suisse lowered its AGL share price target from $12.60 to $11.00 with an underperform rating. This represents a downside of 9% to its share price of $12.07 at close of trade today.
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