Daily FNArena News - Australia

Citi has initiated coverage on OrotonGroup with a Neutral rating, becoming the only broker in the FNArena database not to rate the stock as a Buy.

A disappointing trading update from Woodside Petroleum has prompted cuts to forecasts and price targets and in two cases downgrades to broker ratings.

Following better than expected earnings guidance from NRW Holdings brokers have lifted earnings forecasts and price targets and retained Buy ratings on the stock.

Monadelphous delivered positive AGM commentary that saw brokers lift earnings estimates and price targets, though some are now asking questions about “valuation”.

Brokers discuss the recent round of results for the Big Four banks and how FY12 is shaping up in the face of European concerns.

Australian REITs tend to outperform the market during an interest rate cutting cycle and attractive dividends in the sector are likely to become an increasing focus for investors.

While RBS Australia has downgraded to a Hold rating, a market update from mineral sands play Iluka has seen the majority of brokers retaining their Buy ratings.

Australian stock brokers have begun to shift their portfolios towards a more positive stance assuming a European implosion has been averted.

A site visit to Lynas’s LAMP facility in Malaysia has reinforced the positive view of brokers on the stock, assuming the Malaysian government plays along.

National Australia Bank’s Manufacturing Activity Index fell sharply in the September quarter, reflecting a decline in business confidence and higher purchase costs.