"Busy" no longer covers it. In the third week of the local February reporting season, ending on Friday, 23rd February 2018, FNArena registered no less than 45 upgrades for individual ASX-listed entities accompanied by 23 downgrades. The combo JPMorgan/Ord Minnett has now joined the three Ms (Macquarie, Morgans and Morgan Stanley) in carrying more Buy ratings for stocks under coverage than either Neutral or Sell ratings.
In the good books
THE A2 MILK COMPANY LIMITED (A2M) was upgraded to Outperform from Neutral by Credit Suisse and to Buy from Hold by Deutsche Bank. B/H/S: 4/1/0. First half results beat expectations across the board. With significant financial capacity and a commitment to further investment in marketing, Credit Suisse expects the company to double its revenue stream in 10 years. Target is raised to NZ$12.75 from NZ$8.50. Deutsche Bank was expecting a strong result, but what A2 Milk released was still a "strong beat". Announcing a strategic agreement with Fonterra further lifted overall sentiment. Price target rises to NZ$14 (up 52%).