0212 GMT - For two years Aurizon's bulk-division earnings have disappointed against UBS's expectations and analyst Andre Fromyhr reckons the much-hyped unit will remain a drag on the rail company's volumes and earnings for now. "It would seem the November trading update (bulk volume down 20% for four months to October) means we're unlikely to see an improvement by the February half-year results, notwithstanding Aurizon's guidance that 2H25 volumes will be better than 1H25," says Fromyhr. He trims UBS's target on the stock to A$3.35 from A$3.40, citing weakness in bulks as well as higher depreciation and amortization, among other factors. A neutral call is retained. Aurizon is down 0.3% at A$3.34. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 12, 2024 21:12 ET (02:12 GMT)
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