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AA downgraded by Credit Suisse

08 August 2017 14:07

Equity research analysts at Credit Suisse have downgraded their investment rating on AA (LON:AA.) to underperform (from neutral), which it says is due to the near-to-medium term challenges faced in the Roadside Assistance division.

Commenting on this division, analyst Daniel Hobden, said:

"Erratic work load patterns, especially in June/July pressurised the margin in the group's largest division (79% of revenues).

"We believe a solution to the inherently unpredictable nature of call-out demands on patrols is unlikely in the near-term."

The Swiss bank has also cut its target price to 175 pence per share (from 235 pence).

At 2:07pm: (LON:AA.) AA Plc share price was -14.7p at 186.3p

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