The direct correlation between share price movements and stockbroker ratings for ASX-listed stocks remained alive and well last week. As share market indices swung higher, the number of stocks receiving downgrades multiplied.
For the week ending Friday, 4th May 2018, FNArena registered ten downgrades and five upgrades. Equally noteworthy: only two of the upgrades moved ratings to Buy, while four of the downgrades moved to Sell.
The two stocks receiving upgrades to Buy during the week are New Hope (coal) and Nine Entertainment (media). Stocks downgraded to Sell include APN Outdoor, ASX Ltd, and Regis Resources.