In the good books
1. ECLIPX GROUP (ECX) was upgraded to Outperform from Neutral by Credit Suisse
Credit Suisse believes a strong positive reaction in the share price to the first half result stems mainly from evidence that the underlying fleet and novated lease business is holding a relatively flat trajectory. There is increased comfort that the company should be able to repair its balance sheet. Disposal of the non-core businesses, Right2Drive, Grays and commercial equipment finance, should enable a reduction in debt. Credit Suisse upgrades to Outperform from Neutral and raises the target to $1.40 from $0.88.