In the good books
1. IOOF HOLDINGS (IFL) was upgraded to Outperform from Neutral by Macquarie
Following the Federal Court decision that IOOF directors and executives did not contravene the Act, Macquarie upgrades to Outperform from Neutral. Risks around completing the OnePath deal remain, although a material impediment has been removed. While there is still work to be done, Macquarie believes the steps taken by IOOF to regain the confidence of the market are encouraging. Target is raised to $7.00 from $5.80.