Macquarie 'reluctantly' downgrades Xero
PLUS: A significant shift in Xero's US strategy; Drury responds.
Macquarie has downgraded Xero from neutral to underperform but increased its 12-month target price from $19.00 to $20.25.
Shares [NZX:XRO], which shook off a long slump in the mid-teens after the company's $147 million capital raise in February, were down 1.66 % to $23.70 in early afternoon
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Macquarie 'reluctantly' downgrades Xero
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