Buy, Hold, Sell – what the brokers say

Founder of FNArena
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The Australian share market has started the new calendar year in pretty much the same fashion as it travelled through 2017; brokers are issuing more downgrades than upgrades while main indices continue to lag international peers, but underlying the trend in earnings estimates remains solid and positive, albeit mostly carried by miners and energy companies.

Plus ça change, plus c'est la même chose.

The table for positive changes to earnings estimates is heavily overweighted by resources stocks and it shows via big increases with iron ore miner Mount Gibson on top, followed by Ardent Leisure and then a whole raft of mining stocks. The flipside shows more variety, but also much smaller amendments, with Tabcorp leading the negative side, followed by Beach Energy, Michael Hill and Graincorp.

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