Buy, hold, sell – JB Hi-Fi and Westpac

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In the good books

Costa Group Holdings Limited (CGC) Upgraded to Outperform from Neutral by Macquarie B/H/S: 2/1/0

The company will lift its shareholding of African Blue to 90% from 49%. A payment of $68m for the initial 37% share increase will be paid and the remaining 4% is dependent on actual earnings achieved. Macquarie expects this Moroccan transaction to heighten the chance of an upgrade at the AGM. Costa has previously guided for 10% growth in underlying net profit in FY18. Macquarie upgrades to Outperform from Neutral. Target is raised to $7.00 from $6.14.

JB HI-FI Limited (JBH) Upgraded to Hold from Lighten by Ord Minnett B/H/S:

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