Rudi Filapek-Vandyck has been a journalist for nearly three decades, of which nearly two decades has been in finance. After successfully establishing a leading financial news service in Europe, Rudi moved to Australia where he founded FNArena, an online service dedicated to providing independent and unbiased market analysis. He has also develope...View more >
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Following the big January rally and ahead of the profit reporting seasons, broker analysts have been really busy with 13 companies getting an upgrade and 15 being downgraded.
A rallying stock market led to more downgrades than upgrades by broker analysts last week, with 16 downgrades versus 11 upgrades. QBE was a surprise upgrade.
Woolworths is one of six ASX companies getting an upgrade this week, while stockbroker analysts issue seven downgrades, including Woolies arch rival, Coles.
With many stockbroking analysts yet to return to work, opinion updates were thin on the ground. There were 3 recommendation upgrades and 8 downgrades.
Stockbrokers have issues 10 downgrades and 8 upgrades for ASX-listed stocks so far this week, including three downgrades for Smartgroup.
As corporate activity begins to wind down for 2019, last week brought 4 upgrades and 7 downgrades.