MENU

Reliance Worldwide Corporation share price falls on broker downgrade

After hitting a 52-week high yesterday, the Reliance Worldwide Corporation Aus P Ltd (ASX: RWC) share price has tumbled sharply during trade today.

In afternoon trade the shares of the global provider of water control systems and plumbing solutions are down 5% to $3.44.

The catalyst for today’s decline is likely to be a research note out of Deutsche Bank this morning.

Analysts at the investment bank have downgraded the company’s shares to a sell rating with a $3.06 price target.

According to the note Deutsche believes the outlook for housing starts in Australia over the next few years is rather subdued. As a result, it expects demand for Reliance Worldwide’s products could lessen.

But it isn’t all doom and gloom on the share market today. Three shares which brokers are bullish on and have given buy ratings are listed here.

1 Massive Dividend Stock to Buy Today (6.7% Current Gross Yield!)

FREE REPORT! Click here to discover the Motley Fool’s #1 ASX dividend recommendation – currently paying a 6.7% gross yield!

Even better, this ‘under the radar’ consumer play is growing like gangbusters. Shares have rocketed 100% in the last 5 years, DOUBLING shareholders’ investment. So what’s not to like?

Simply click here to grab your free copy of this up-to-the-minute research report right now.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!