The combination of the local share market seemingly hitting a speed bump and an acceleration in corporate results releases has swung around the dynamic in stockbroker ratings during the week ending on Friday, 16th August 2019.
For the week, FNArena registered 24 upgrades being issued for individual ASX-listed stocks against 13 downgrades. Previously, the pendulum had been firmly in favour of more downgrades.
Somewhat tempering the at face value positive turnaround is the observation only 12 out of the 24 upgrades moved to Buy; the other half got stuck in the Neutral/Hold section. In similar fashion, six of the 13 downgrades moved to Sell. This remains a hugely divided market.