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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Strong results from James Hardie and CSR saw those two companies upgraded by three brokers each last week.
Upgrades and downgrades were relatively even this week, while Macquarie and Westpac were in Deutsche Bank's bad books.
Share market gains have prompted a spate of downgrades by analysts, as the market prices in earnings that the brokers can’t see. WOW is upgraded as NAB gets a downgrade.
There were more downgrades than upgrades last week and some companies – like Pacific Brands – appeared on both sides of the ledger. Bendigo & Adelaide Bank was upgraded as Atlas Iron and Mortgage ..
While the US played fiddle, closer to home brokers were busy. Downgrades outstripped upgrades 17 to 12 as analysts considered many companies overvalued. Resources were a focus, with Woodside and Forte..
Among broker ratings this week, CSL and Woodside all received upgrades, while BOQ and Santos were downgraded.