In the good books
1. DOMAIN HOLDINGS AUSTRALIA (DHG) was upgraded to Neutral from Underperform by Macquarie
At Macquarie's conference, Domain provided a March Q update which saw weak revenues but improved yields. The new CEO is pursuing cost-outs and moving to a more segmented approach of smaller geographical zones rather than state-based pricing. The company is also looking to monetise the "unreplicable" digital database of major shareholder Nine Entertainment (NEC). Macquarie agrees FY19 remains challenging but sees strong earnings growth in FY20, hence now the share price has pulled back to the broker's $2.70 target, rating upgraded back to Neutral having been downgraded to Underperform early in April.