Apparently, the government’s decision to launch its own state-run train ticketing app last week was “broadly in line” with what bosses at Trainline had expected from the railways review. The market, though, was blindsided. The shares lost a quarter of their value last Thursday, when the announcement was made, and they have fallen in every session since. Yesterday, they fell another 24½p, or 8.3 per cent, to 272½p, with the latest sell-off prompted by a swift U-turn from what used to be one of the company’s biggest fans. SponsoredStifel, the American brokerage, downgraded the stock to “hold” having previously been a buyer, while it slashed its price target to 330p having become “uncomfortable” with the punchy 510p target it had in place before.

Source: The Times May 25, 2021 23:35 UTC