In the good books
Xero (XRO) was upgraded to Neutral from Sell by UBS. B/H/S: 1/2/2. UBS has transferred coverage to a new analyst, resulting in an upgrade to Neutral for Xero and a target increase (and currency switch) to A$42.50 from NZ$26.50. Xero is towards the end of its transition from loss-making start-up to self-funding business, the new analyst notes, and offers a proven business model and significant structural growth opportunities. FY19 has the potential to be an industry-changing year in the UK due to new regulatory requirements.
In the not-so-good books