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Hochtief Likely to Cut Its Dividend, BofA Says in Downgrade to Underperform

(PLX AI) – Hochtief is likely to cut its dividend for 2021, analysts at Bank of America said, downgrading their recommendation on the stock to underperform from neutral.Shares fell 2% this morningPrice target cut to EUR 69 from EUR 72Hochtief …

  • (PLX AI) – Hochtief is likely to cut its dividend for 2021, analysts at Bank of America said, downgrading their recommendation on the stock to underperform from neutral.
  • Shares fell 2% this morning
  • Price target cut to EUR 69 from EUR 72
  • Hochtief capital gains from Ventia stake partial sale are insufficient to offset the construction project write-down in Chile, BofA said
  • Meanwhile, the share buyback announced in November is not progressing, BofA said
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Hochtief Likely to Cut Its Dividend, BofA Says in Downgrade to Underperform (PLX AI) – Hochtief is likely to cut its dividend for 2021, analysts at Bank of America said, downgrading their recommendation on the stock to underperform from neutral.Shares fell 2% this morningPrice target cut to EUR 69 from EUR 72Hochtief …

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