In the good books
1. AIR NEW ZEALAND (AIZ) was upgraded to Buy from Neutral by UBS
UBS believes investors will increasingly turn their focus to the potential for earnings to recover and generate strong cash flow from FY20. The broker's conviction is lifted by the recent announcement of a cost reduction program, more conservative network growth and the re-timing of fleet orders. The broker lifts forecasts for FY19 by 2% in FY20 by 17%. Rating is upgraded to Buy from Neutral. Target is raised to NZ$2.90 from NZ$2.55.