S&P/ASX All Ords Index (ASX: XAO) shares are down 0.34% to 8,489.9 points on Tuesday amid several stocks receiving downgraded broker ratings.
Let's take a look.
Brokers downgrade 4 ASX All Ords shares
ASX lithium share to fall 13% over the next year, says Citi
Citi has downgraded ASX lithium share Liontown Resources Ltd (ASX: LTR) to a sell rating.
Liontown shares are trading at 86 cents on Tuesday, up 1.79%.
Citi reckons a share price fall is coming. It has placed a 12-month share price target of 75 cents on the ASX All Ords lithium producer.
As reported in the Australian Financial Review (AFR), Citi analyst Kate McCutcheon said Liontown had reported more capital expenditure in its second half than Citi expected.
McCutcheon said:
The extra capex pulls forward our balance sheet concerns, i.e. on spot our estimates suggest additional liquidity needed by FY26 … we move to sell based on valuation.
No champagne for this ASX All Ords retail share
Both Barrenjoey and Jarden Securities have cut their ratings on liquor retailer Endeavour Group Ltd (ASX: EDV).
The ASX All Ords retail stock is currently trading for $4.41 per share, down 2.21%.
According to The Australian, Barrenjoey has cut its rating on Endeavour shares to underweight. The broker has placed a 12-month price target of $4.10 on the ASX All Ords retail share.
Jarden is a little less bearish.
While it has cut its rating on Endeavour to neutral, Jarden's 12-month share price target indicates the stock could rise. Jarden thinks Endeavour shares could increase to $5 per share over the next year.
No explosive growth ahead for this stock
CLSA has cut its rating on explosives and fertiliser manufacturer Incitec Pivot Ltd (ASX: IPL) to hold.
The broker has a 12-month share price target of $3.20 on the ASX All Ords stock.
Incitec Pivot shares are currently trading at $3.07, down 1.45% on Tuesday.
Triple whammy on ASX All Ords logistics stock
Three brokers have cut their ratings on ASX All Ords industrials share Silk Logistics Holdings Ltd (ASX: SLH).
The Silk Logistics share price is $2.08, up 0.48% on Tuesday.
Moelis & Company has cut its rating to hold on the port logistics provider. The broker has a 12-month share price target of $2.14 on Silk Holdings, implying a minor potential upside over the next year.
Shaw and Partners has also cut its rating on Silk Logistics to hold with a share price target of $2.10.
Morgans Financial has also cut its rating to hold.
