The August reporting season is done and dusted and overall activity among securities analysts as measured by upgrades and downgrades for individual ASX-listed entities has fallen to single digits for each for the week ending Friday 6 September 2019. No surprises here.
Fittingly, FNArena registered six upgrades and six downgrades. Five of the upgrades moved to Buy, while three of the downgrades became a fresh Sell rating. The unlucky receivers of the latter are Collection House (disappointing result), CSR (still no improvement for building materials) and Harvey Norman (disappointing result).
The real fireworks was reserved for changes to earnings forecasts which are, on both sides, considerable. On the positive side sits Myer on top, followed by Freedom Foods Group, Western Areas, Austal, and Village Roadshow.