Australian Broker Call
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March 13, 2018
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
THIS REPORT WILL BE UPDATED SHORTLY
Last Updated: 10:30 AM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
JHX - | JAMES HARDIE | Upgrade to Outperform from Neutral | Credit Suisse |
MND - | MONADELPHOUS GROUP | Upgrade to Neutral from Underperform | Credit Suisse |
NCM - | NEWCREST MINING | Downgrade to Underperform from Neutral | Macquarie |
AGL AGL ENERGY LIMITED
Infrastructure & Utilities
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Overnight Price: $21.77
Macquarie rates AGL as Neutral (3) -
Changes to Vic regulations should favour the bigger energy retailers, the broker suggests, and may see consolidation among the smaller players, but the risk is the government introduces a "no frills" basic service offering.
The tailwind of rising electricity prices has now abated, the broker notes, and sustainability of pricing is uncertain as renewable generation costs fall. Lower prices will nevertheless take time to feed through into earnings, with FY20-21 most exposed.
Neutral retained for AGL, target falls to $22.92 from $23.01.
Target price is $22.92 Current Price is $21.77 Difference: $1.15
If AGL meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $24.81, suggesting upside of 14.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 116.00 cents and EPS of 153.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 153.5, implying annual growth of 90.7%. Current consensus DPS estimate is 112.1, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 127.00 cents and EPS of 169.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 169.3, implying annual growth of 10.3%. Current consensus DPS estimate is 126.9, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $5.89
Credit Suisse rates CHC as Underperform (5) -
Credit Suisse continues to believe the stock is materially overvalued, trading 19% above its revised target of $4.92, up from $4.71. Recognition of performance fees, previously slated for FY20, has been pulled forward into FY18 and this has served to boost near-term earnings.
Subsequently the broker expects a softening of valuation, for the company's long WALE fund product in particular, which will mean FY21 estimates are slightly below FY18 levels. Underperform maintained.
Target price is $4.92 Current Price is $5.89 Difference: minus $0.97 (current price is over target).
If CHC meets the Credit Suisse target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.13, suggesting upside of 4.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 32.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 37.8, implying annual growth of -38.2%. Current consensus DPS estimate is 32.6, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 32.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.1, implying annual growth of 6.1%. Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DMP DOMINO'S PIZZA ENTERPRISES LIMITED
Food, Beverages & Tobacco
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Overnight Price: $43.91
Morgan Stanley rates DMP as Overweight (1) -
Morgan Stanley has even greater conviction about the long-term growth in Europe after a visit to the company's operations. Domino's has guided to 2,500 stores in Europe by 2025 versus 891 today.
The Netherlands is the most penetrated country for online takeaway food and the broker believes the company's success in this market indicates it can survive with aggregators.
Overweight rating and Cautious industry view. Target is $55.
Target price is $55.00 Current Price is $43.91 Difference: $11.09
If DMP meets the Morgan Stanley target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $47.81, suggesting upside of 8.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 121.00 cents and EPS of 156.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 155.9, implying annual growth of 34.4%. Current consensus DPS estimate is 116.4, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 28.2. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 146.00 cents and EPS of 197.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 191.5, implying annual growth of 22.8%. Current consensus DPS estimate is 141.9, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 22.9. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $8.44
Credit Suisse rates GMG as Neutral (3) -
Credit Suisse raises FY18-20 estimates by 1% on average to reflect stronger near-term performance fees offset, in part, by higher levels of fund disposal activity.
The broker now expects the company to generate three-year average growth in earnings per share of 7% from FY17-20. Neutral rating maintained. Target is raised to $8.24 from $8.01.
Target price is $8.24 Current Price is $8.44 Difference: minus $0.2 (current price is over target).
If GMG meets the Credit Suisse target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.58, suggesting upside of 1.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 28.00 cents and EPS of 47.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 47.6, implying annual growth of 9.4%. Current consensus DPS estimate is 27.9, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 17.7. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 30.00 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of 4.2%. Current consensus DPS estimate is 29.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 17.0. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JHX JAMES HARDIE INDUSTRIES N.V.
Building Products & Services
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Overnight Price: $22.81
Credit Suisse rates JHX as Upgrade to Outperform from Neutral (1) -
Credit Suisse is more confident in the outlook after reports from the company's customers confirm that US housing and renovation activity is robust. US home builders have reported revenues that are slightly above consensus forecasts amid growing order books.
In the retail channel both Home Depot and Lowes have beat sales estimates. Credit Suisse forecasts FY18 net profit of US$280m. Rating is upgraded to Outperform from Neutral. Target is $24.75.
Target price is $24.75 Current Price is $22.81 Difference: $1.94
If JHX meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $24.39, suggesting upside of 6.9% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 51.87 cents and EPS of 81.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.3, implying annual growth of N/A. Current consensus DPS estimate is 50.7, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 28.4. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 64.84 cents and EPS of 100.73 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.5, implying annual growth of 25.2%. Current consensus DPS estimate is 61.0, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 22.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MFG MAGELLAN FINANCIAL GROUP LIMITED
Wealth Management & Investments
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Overnight Price: $26.10
Credit Suisse rates MFG as Outperform (1) -
Credit Suisse continues to expect a benefit from rising allocations to global equities in Australia, viewed as a structural trend.
The broker reiterates an Outperform rating for Magellan Financial as it is likely to benefit from additional retail funds from Airlie, further institutional flows and the structural shift towards global equities in the domestic retail market. Target is $29.
Target price is $29.00 Current Price is $26.10 Difference: $2.9
If MFG meets the Credit Suisse target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $28.94, suggesting upside of 10.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 104.00 cents and EPS of 141.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 130.7, implying annual growth of 11.8%. Current consensus DPS estimate is 99.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 20.0. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 125.00 cents and EPS of 169.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 156.3, implying annual growth of 19.6%. Current consensus DPS estimate is 115.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MND MONADELPHOUS GROUP LIMITED
Mining Sector Contracting
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Overnight Price: $15.14
Credit Suisse rates MND as Upgrade to Neutral from Underperform (3) -
Management remains cautious on the FY19 outlook although Credit Suisse expects a win of at least one of the three large iron ore contracts up for grabs in Western Australia in the first half of that year. A revenue benefit is unlikely until the second half.
Because of the weakness in the shares the broker upgrades to Neutral from Underperform. Target is steady at $15.10.
Target price is $15.10 Current Price is $15.14 Difference: minus $0.04 (current price is over target).
If MND meets the Credit Suisse target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $15.13, suggesting downside of -0.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 60.00 cents and EPS of 76.29 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 76.7, implying annual growth of 24.9%. Current consensus DPS estimate is 63.0, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 19.7. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 70.35 cents and EPS of 82.76 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 79.9, implying annual growth of 4.2%. Current consensus DPS estimate is 68.1, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 18.9. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $20.60
Citi rates NCM as Buy (1) -
The company has halted operations at Cadia East following a failure in the tailings storage facility. For Citi, the incident raises questions about the operation, which can only be answered by investigations by the company and the NSW regulators.
For example, how will the incident influence the company's bid to expand processing capacity at Cadia, and are recent seismic events related to mining? Citi maintains a Buy rating and $27.10 target.
Target price is $27.10 Current Price is $20.60 Difference: $6.5
If NCM meets the Citi target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $20.89, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 27.16 cents and EPS of 75.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.0, implying annual growth of N/A. Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 38.80 cents and EPS of 128.43 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 117.9, implying annual growth of 51.2%. Current consensus DPS estimate is 35.4, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 17.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates NCM as Downgrade to Underperform from Neutral (5) -
The wall of the tailings dam at Cadia failed last Friday in the wake of minor earthquakes recorded in the area. Newcrest has suspended production at the mine which accounts for around 60% of group earnings. Macquarie is factoring in a six week shutdown but it could be less or more.
The failure is a major concern to Macquarie. Given the production issues arising from an earthquake in April last year, the market will likely discount valuation until some certainty in the outlook can be established. Downgrade to Underperform from Neutral.
Target falls to $19 from $23.
Target price is $19.00 Current Price is $20.60 Difference: minus $1.6 (current price is over target).
If NCM meets the Macquarie target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $20.89, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 20.05 cents and EPS of 52.12 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.0, implying annual growth of N/A. Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 36.21 cents and EPS of 119.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 117.9, implying annual growth of 51.2%. Current consensus DPS estimate is 35.4, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 17.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NCM as Accumulate (2) -
Part of the tailings dam at Cadia has collapsed and the company has suspended operations. Ord Minnett's initial view is that there should be no long-term impact from this event. The break was contained within the southern tailings area.
Management has acknowledged the event could likely affect FY18 guidance, given the importance of Cadia to its performance. Ord Minnett estimates a -10% reduction in output which reduces FY18 EBITDA by -6%. Accumulate rating and $25 target maintained.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $25.00 Current Price is $20.60 Difference: $4.4
If NCM meets the Ord Minnett target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $20.89, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 64.67 cents and EPS of 162.96 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.0, implying annual growth of N/A. Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 65.96 cents and EPS of 164.25 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 117.9, implying annual growth of 51.2%. Current consensus DPS estimate is 35.4, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 17.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates NCM as Sell (5) -
The company has suspended production at Cadia pending an investigation of a breach of the tailings dam. Timing of the return to full production is unknown.
Cadia accounts for 30% of group production and around 60% of EBITDA. Hence, UBS suspects FY18 guidance is unlikely to be achieved at this stage.
Sell rating is maintained. Target is $13.90.
Target price is $13.90 Current Price is $20.60 Difference: minus $6.7 (current price is over target).
If NCM meets the UBS target it will return approximately minus 33% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $20.89, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 19.40 cents and EPS of 69.84 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.0, implying annual growth of N/A. Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 24.57 cents and EPS of 103.47 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 117.9, implying annual growth of 51.2%. Current consensus DPS estimate is 35.4, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 17.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $9.40
Citi rates OZL as Buy (1) -
The company plans to commission a new high voltage line to its Prominent Hill and Carrapateena mines. This will travel parallel with the existing line owned by BHP ((BHP)) which OZ Minerals will stop using in August 2020. Citi observes the announcement goes some way to clarifying a key risk to the company's SA copper production.
Part of the new construction includes a connection to the SolarReserve Aurora thermal power array and Citi notes the company clearly expects renewables to be part of the future supply arrangement.
Citi maintains a Buy rating and $11.10 target.
Target price is $11.10 Current Price is $9.40 Difference: $1.7
If OZL meets the Citi target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $9.73, suggesting upside of 3.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 28.00 cents and EPS of 83.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 75.4, implying annual growth of -2.1%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 12.5. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 12.00 cents and EPS of 61.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.2, implying annual growth of -26.8%. Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 17.0. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.14
UBS rates RFF as Initiation of coverage with Buy (1) -
UBS initiates coverage on Rural Funds Group with a Buy rating and $2.39 target. The company is one of the few farmland real estate investment trusts globally and the only one on the ASX.
The business has strong momentum and compelling growth prospects and the broker suggests the catalyst going forward will be acquisitions, specifically cattle properties in northern Queensland, which should provide significant accretion over time.
Target price is $2.39 Current Price is $2.14 Difference: $0.25
If RFF meets the UBS target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 10.10 cents and EPS of 12.90 cents. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 10.80 cents and EPS of 13.80 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $10.77
Macquarie rates WTC as Neutral (3) -
Having reassessed its view on WiseTech post result, the broker declares the company to be a high quality growth business capable of long value creation through organic growth and acquisitions. The company's industry leading products should continue to win market share from legacy in-house systems and from competitors.
Successful penetration into other key market verticals will be an important barometer in the medium term. In the short term, the stock trades at a significant premium to global peers. Neutral retained. Target rises 61% to $11.39.
Target price is $11.39 Current Price is $10.77 Difference: $0.62
If WTC meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $10.63, suggesting downside of -1.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 2.60 cents and EPS of 13.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of 32.1%. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.3%. Current consensus EPS estimate suggests the PER is 74.8. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 3.70 cents and EPS of 18.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.3, implying annual growth of 41.0%. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 53.1. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
AGL | AGL ENERGY | Neutral - Macquarie | Overnight Price $21.77 |
CHC | CHARTER HALL | Underperform - Credit Suisse | Overnight Price $5.89 |
DMP | DOMINO'S PIZZA | Overweight - Morgan Stanley | Overnight Price $43.91 |
GMG | GOODMAN GRP | Neutral - Credit Suisse | Overnight Price $8.44 |
JHX | JAMES HARDIE | Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $22.81 |
MFG | MAGELLAN FINANCIAL GROUP | Outperform - Credit Suisse | Overnight Price $26.10 |
MND | MONADELPHOUS GROUP | Upgrade to Neutral from Underperform - Credit Suisse | Overnight Price $15.14 |
NCM | NEWCREST MINING | Buy - Citi | Overnight Price $20.60 |
Downgrade to Underperform from Neutral - Macquarie | Overnight Price $20.60 | ||
Accumulate - Ord Minnett | Overnight Price $20.60 | ||
Sell - UBS | Overnight Price $20.60 | ||
OZL | OZ MINERALS | Buy - Citi | Overnight Price $9.40 |
RFF | RURAL FUNDS GROUP | Initiation of coverage with Buy - UBS | Overnight Price $2.14 |
WTC | WISETECH GLOBAL | Neutral - Macquarie | Overnight Price $10.77 |
RATING SUMMARY
Rating | No. Of Recommendations |
1. Buy | 6 |
2. Accumulate | 1 |
3. Hold | 4 |
5. Sell | 3 |
Tuesday 13 March 2018
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This document is provided for informational purposes only. It does not
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