Macquarie downgrades to Neutral from Outperform. The revenue environment is uncertain and the stock is trading near the target price.
While the business has controlled costs and will benefit from JobKeeper payments, further weakness in advertising markets is expected to prevail for the near term. Target is unchanged at $0.18.
Target price is $0.18.Current Price is $0.17. Difference: $0.01 – (brackets indicate current price is over target). If SXL meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).