Recommendation upgrades and downgrades for ASX-listed entities were roughly in balance during the week ending on Friday, 1st November 2019. FNArena counted 11 and 12 respectively.
The not-so-good news is that less than half of all upgrades only moved to Neutral/Hold (5 out of the 11) but then only four of the 12 downgrades sunk to a Sell.
The fourth profit warning during this calendar year delivered Costa Group two fresh Sell ratings. On the positive side, gold producer Regis Resources was upgraded twice to Buy, while struggling scrap trader Sims Metal Management also received two upgrades, one to Buy and one to Neutral.