Buy, Hold, Sell – What the Brokers Say

Founder of FNArena
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1. CLEANAWAY WASTE MANAGEMENT (CWY) was upgraded to Neutral from Underperform by Credit Suisse

Citi lowers FY20 estimates for earnings per share by -12-13% over FY20-22 after the AGM trading update. The broker estimates that around 90% of the company's commodity income is linked to old corrugated cardboard and prices have halved since the first half of FY19. However there are options from cost reductions, price increases and a stabilisation of commodity markets that could flow through from the second half. Buy rating maintained. Target is reduced to $2.25 from $2.40.

2. FREELANCER (FLN) was upgraded to Neutral from Sell by UBS

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