Originally Posted by
steve fleming
Huntleys are pretty blunt with their views today:
We downgrade our recommendation to Sell and strictly advise against any speculative investment in CCP. Investors brave enough to be holding the stock at this stage should exit on market. The lack of earnings certainty and poor disclosure makes forecasts, price triggers and valuation estimates inappropriate.
We see more downside in the shareprice despite trading almost 90% below its rolling year high. Lack of confidence in management and high levels of gearing could force ledger divestments. Our main fear is a suspension in the trading of securities with investors potentially sidelined until the dust settles. Repcol (RPC) is a perfect example.