The final week of the August reporting season ending on Friday 30 August, proved an extremely busy one. FNArena registered no less than 17 upgrades and 28 downgrades for individual ASX-listed stocks. Ten out of the 17 upgrades moved to Buy, so there is a silver lining.
Surprisingly, maybe to some, among the stocks receiving a fresh Buy rating we find Appen, Macquarie and NextDC. Sandfire Resources welcomed two new Buys. Boral equally received two upgrades, but one didn't move higher up the rankings than Neutral/Hold.
Plenty to see on the opposing side of the ledger where -another silver lining- only four downgrades sunk as low as Sell. Virgin Australia, Ebos Group, Independence Group, and Whitehaven Coal are responsible for all four. Caltex Australia received multiple changes on both sides of the ledger. G8 Education copped three downgrades to Neutral/Hold. Midway kept it to two.