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03 Aug 2012

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Barloworld falls on rating downgrade

Reuters

Johannesburg - A ratings downgrade and a target price reduction for Barloworld [JSE:BAW] depressed the mining equipment supplier’s stock by more than 2.6% to R79.85.

Brokerage Macquarie has lowered Barloworld’s rating to neutral from outperform and cut its target price to R77.50 from R108.

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