Today Nick Gordon is joined by Paul Ryan discussing the recent change in recommendation on Toll holdings to a negative by Evans and Partners. The underwhelming investor trading update, management changes and slowing domestic business are a few of the reasons for the downgrade in earnings by 6% and valuation by 13%. On the flipside , Paul has upgraded earnings and valuation and maintains his positive view on McMillan Shakespeare. The uncertainties around the Henry Review and the recent Federal Budget have now cleared and the business appears to be in good shape.
