Nobody doubts that Carillion has been wounded of late, its shares having slumped by nearly three quarters since a shock profits warning last month, so the last thing it needed was analysts weighing in, adding insult to injury. They did just that yesterday, though, brokers again cutting their valuations for the construction and facilities management group and providing an extra push down on the shares, which fell 3½p, or 6 per cent, to 53¼p. A growing number of analysts believe that Carillion will have to raise funds through an equity or rights issue after taking a £845 million writedown. Investec slashed its target price from 300p to 50p. Analysts switched to a “sell” rating, down from “hold,” telling clients: “Our benchmarking analysis suggests Carillion could…

Source: The Times August 01, 2017 22:52 UTC