For the week ending Friday 24 May 2019, FNArena registered no less than 14 upgrades in recommendations for individual ASX-listed stocks and 18 downgrades. Not unexpected, the tally represents value seen opening up on a change in forecasts (same government, unexpected) and increasing valuation constraints as share prices continue to rise.
Hence it would be pleasing to note for most investors only four out of the 14 upgrades stopped at Neutral/Hold. On the flipside, 13 of the 18 downgrades sank the recommendation to Sell. It truly is a bifurcated market indeed.
Computershare was the sole recipient of more than one upgrade during the week (one to Neutral only). On the flipside, AGL Energy, ALS ltd, NRW Holdings and TechnologyOne all received two downgrades. Woolworths received three, all went to Sell.