Does MM like Codan (CDA)?
What are your thoughts on Codan's price drop, given its recent financial report highlights and dividend increase, please?
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Answer
Hi Christine,
Unfortunately CDA just keeps falling, its now corrected over 60% in around 9-months. Stock prices follow expectations around earnings and CDA earnings expectations continue to get revised lower i.e. average analyst expectations are down 7% in the past 4 weeks alone and until that trend changes, the stock will remain on the nose.
