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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Analysts have been busy updating their sector calls for the year ahead. A review of the banking sector by Citi saw downgrades in three of the Big Four – ANZ, CBA and Westpac.
It was an uncharacteristically busy week last week, and brokers were more upbeat, with more upgrades than down. Oil Search and Qantas got upgrades, as Newcrest got a double downgrade.
As everyone winds down towards the end of the year, there wasn’t much broker action in the later part of last week, but they couldn’t ignore profit warnings, with downgrades on Qantas and Mount Gi..
Corporate actions and disappointing guidances drove broker activity last week, with upgrades for Cromwell Property and Oroton and downgrades for Qantas and Westfield Retail Trust
There were more upgrades than downgrades this week, which bodes well for the local share market. Iluka and Seek both received upgrades while Forge Group was downgraded.
An unexpected, profit warning by oil and gas-oriented WorleyParsons put investors once again on alert, but a lift in earnings expectations also buoyed Brambles and James Hardie into upgrades.