In the good books
1. ALTIUM (ALU) was upgraded to Neutral from Underperform by Macquarie
Altium's result was modestly below expectation but largely due to promotional activity. Otherwise key metrics were strong, with better than expected new seat and subscriber additions. Macquarie believes the company can maintain strong growth from its core base while retaining optionality to pursue larger initiatives over time. Earnings forecasts have been ticked up and target rises 4% to $35.50. Upgrade to Neutral from Underperform.