The Orica Ltd (ASX: ORI) share price has been amongst the worst performers on the market on Friday.
In late afternoon trade the explosives company's shares are down 3.5% to $19.66.
Why are its shares lower?
With no news out of the company, today's decline is likely to be attributable to a reasonably negative broker note out of Deutsche Bank.
According to the note, the investment bank has downgraded Orica's shares from a buy rating to a hold rating.
Furthermore, its analysts have cut the price target on its shares to $20.25 from $21.30.
The broker appears to believe that unfavourable currency movements and increased costs will offset any growth in explosives volumes and strip ratios.
Finally, if you're looking to buy shares that leading brokers like then take a look at these recent broker buys.
