By Mark Woodruff
Guide:
The FNArena database tabulates the views of seven major Australian and international stock brokers: Citi, Credit Suisse, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS.
For the purpose of broker rating correlation, Outperform and Overweight ratings are grouped as Buy, Neutral is grouped with Hold and Underperform and Underweight are grouped as Sell to provide a Buy/Hold/Sell (B/H/S) ratio.
Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.
Summary
Total Upgrades: 11
Net Ratings Breakdown: Buy 53.92%; Hold 38.91%; Sell 7.17%
For the week ending Friday 23 July, there were eleven upgrades and eleven downgrades to ASX-listed companies by brokers in the FNArena database.
Miners lift shares to intraday record
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Property trust: Charter Hall s funds model: still fresh after three decades
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No Idea
On Wednesday every sector bar technology closed stronger and yesterday every sector bar two closed lower. When the opening bell rang yesterday nothing happened. By 11.30am the index had struggled to up ten points before heading south all afternoon.
The two sectors posting gains were materials (+1.4%) on a pop in the gold price and utilities (+0.7%) as Spark Infrastructure came out of its trading halt and rose another 6.1%. Spark is prepared to chat to the consortium on the hunt, but not to allow due diligence.
Given the market was not fazed about the extended Sydney lockdown on Wednesday, probably focusing on federal/state government assistance, the new Melbourne lockdown was likely not the trigger for the sell-off.
Spark Infrastructure rejects takeover bid from investor group: Reuters
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