In the good books
1. CLASS (CL1) was upgraded to Add from Reduce by Morgans
Class has decided to reduce its single-product reliance on Class Super, its SMSF management software system. Expanding the product range will require higher investment capex in the shorter term, Morgans notes, weighing on earnings. The move is not without risk but if successful, Class should become a more attractive growth investment, Morgans believes. The broker has made multiple changes to its forecasting and valuation models, which lead to a target price increase to $1.41 from $1.34, and a double-upgrade to Add from Reduce.