It was the final week of the local February reporting season and boy, there was frantic activity everywhere. Investors were selling shares on Covid 19 uncertainty and recession fears, while stockbroking analysts were digesting fresh corporate updates and remodeling accordingly.
For the week ending Friday, 28th February 2020, FNArena registered no less than 28 upgrades in ratings for individual ASX-listed stocks, against only seven downgrades. Star of the week was building materials stalwart Adelaide Brighton which received four upgrades, though three of those only went up to Neutral/Hold.
Spark Infrastructure is the only other stock that received multiple upgrades during the week. Of the two, only one upgrade moved to Buy.