Daily FNArena News - Australia

BA Merrill Lynch has initiated coverage on Pharmaxis with a Buy rating, adding to existing positive views from Credit Suisse and RBS Australia.

ERM Power delivered a solid interim result and Macquarie’s subsequent meeting with management has confirmed the broker’s positive view.

A continuously weakening share price indicates the market is worried about the future of Geodynamics.

Management at WorleyParsons delivered positive earnings commentary at an investor day last week.

The ACCC has released its interim price changes for telco charges which have an impact on Telstra earnings. iiNet stands to be a winner.

Southern Cross Equities has upgraded Mesoblast to Buy from Speculative Buy.

Australian REITs outperformed the broader market in February, brokers attributing this to a solid profit season and cautious optimism on the part of management.

Drilling products and services provider Imdex reported strong interim earnings and Moelis sees further growth potential in coming years.

In the wake of the result season brokers have begun to reshape their lists of stocks to which they feel the most committed. Macquarie, UBS and Goldman Sachs are featured here.

A mixed result for Q4 and weak expectations for Q1 mean economists do not see a rate rise until after mid-year.