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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Yield stocks continue to be in favour on the positive side of the broker equation, while OrotonGroup and Sydney Airport both got downgrades.
It was a slow week but there were more optimistic brokers than pessimistic, with Boart Longyear, IAG and Wesfarmers all getting upgrades.
Analyst activity reflected market activity this week. Actions were thin on the ground and were a result of individual factors, rather than overriding themes.
In the last week of reporting season brokers were busy, although there were plenty of disappointments, there were some positive surprises as well with Charter Hall and Transfield Services both getting..
It’s still all about earnings numbers for analysts, who mostly appeared surprised on the downside when companies failed to meet expectations.
The Australian reporting season continues to drive broker activity, but analysts seem to be struggling with share prices that are already reflective of better than forecast financial performances.