UBS AG downgraded shares of Boart Longyear (ASX:BLY) to a sell rating in a research note released on Thursday morning, Analyst Ratings Network.com reports.
UBS AG has also modified their ratings on a number of other stocks in the few days. The firm reiterated its buy rating on shares of Himax Technologies. They have a $7.50 price target on that stock. Also, UBS AG reiterated its hold rating on shares of Tim Hortons. They have a $57.73 price target on that stock. Finally, UBS AG raised its price target on shares of Veolia Environnement from $9.00 to $9.20. They have a neutral rating on that stock.
A number of other analysts have also recently weighed in on BLY. Analysts at Bank of America Corp. reiterated a neutral rating on shares of Boart Longyear in a research note to investors on Monday, July 1st.
Shares of Boart Longyear (ASX: BLY) traded up 2.78% during mid-day trading on Thursday, hitting A$0.555. Boart Longyear has a 52 week low of A$0.465 and a 52 week high of A$2.680. The stock’s 50-day moving average is currently A$0.61. The company has a market cap of A$252.4 million and a P/E ratio of 3.65.
Boart Longyear Limited is an integrated provider of drilling services, capital equipment and consumable products for customers in mining and minerals exploration, environmental and infrastructure, and energy industries.