In the good books
1. AGL ENERGY (AGL) was upgraded to Hold from Reduce by Morgans and to Neutral from Underperform by Macquarie
Morgans suggests the realisation of synergies in the acquisition of Vocus Group (VOC) will be challenging for a management team that lacks experience in telecommunications and for a target that is at the beginning of a transformation process. The broker suspects there is still significant potential downside in the share price, offset by likely dividends in the next 12 months. Rating is upgraded to Hold from Reduce and the target is steady at $17.85.